NATIONALLY, hotels tracked by
PKF experienced an increase of 3.6 points in occupancy during the
first three quarters of 2004 from the same period in 2003. The
average daily room rate rose by 3.3% to $119.03, which resulted
in a Revenue Per Available Room (RevPAR) of $76.08, a 9.4% increase
from 2003.
ATLANTIC CANADA RESULTS – The
Atlantic provinces experienced a slight decrease of 0.8 points
in occupancy but a 1.6% improvement in average daily room rate,
which resulted in a 0.4% increase in RevPAR. For the first three
quarters of 2004, decreases in occupancy were experienced in all
Atlantic provinces with the exception of New Brunswick which reported
a rise of 0.4 occupancy points compared with figures from the same
period in 2003. Average daily room rates increased in all Atlantic
provinces, with Prince Edward Island reporting a 2.6% increase
from 2003.
CENTRAL CANADA RESULTS –Year
to date results for Central Canada showed hotels tracked by PKF
reporting an increase of 4.7 points in occupancy over the same
period in 2003. The average daily room rate for Central Canada
grew by 3.5% to $123.35 over 2003. RevPAR in Central Canada increased
by a significant 11.8% to $78.51 over last year. Ontario hotels
reported a 5.5 point growth in occupancy for the first nine months
of 2004 and Downtown Toronto experienced the most significant occupancy
increase at 13.9 points for the first three quarters of 2004 compared
to the same period in 2003. Average daily room rates increased
in both Ontario and Quebec with Downtown Toronto reporting a 7.4%
increase in ADR over the first nine months of 2004 compared with
the same period in 2003.
WESTERN CANADA RESULTS – Overall
occupancy in Western Canada properties increased by 3 points for
the first nine months of 2004. Hotel properties in Western Canada
reported a 3.1% increase in average daily room rate, which resulted
in an 8.1% rise in RevPAR. For the first three quarters of 2004,
Western Canada provinces experienced increases in occupancy with
the exception of Saskatchewan reporting a slight decease of 0.4
points in occupancy. The Yukon reported the most significant increase
in occupancy at 4.5 points with British Columbia following with
3.9 points in occupancy. Year to date results showed that all Western
Canada provinces reported increases in average daily room rate
over the same period last year, with the Yukon, Alberta (excluding
Resorts) and Saskatchewan experiencing the highest increases.
