NATIONALLY, occupancy rates rose
by 0.7 points to 54.2% in the first quarter of 2005 compared to
the same period in 2004. In Quarter 1 2005, the average daily room
rate increased by 1.3% to $109.46, which resulted in a Revenue
Per Available Room (RevPAR) of $59.30, a 2.7% increase over the
first quarter of 2004.
Hotel performance in Central and Western Canada
showed improvements over last year for the first 3 months of 2005.
This compares to decreases in occupancy performance in Atlantic
Canada in Quarter 1 2005. The Quarter 1 RevPAR in Western Canada
increased by 2.3% while RevPAR for Atlantic Canada dropped slightly
by 0.1%.
ATLANTIC CANADA RESULTS – The
Atlantic provinces experienced a 48.2% overall occupancy and a
2.8% increase in average daily room rate, which resulted in a 0.1%
decrease in RevPAR. New Brunswick was up by 0.4 occupancy points
from the same quarter last year while hotel properties in Newfoundland,
Prince Edward Island and Nova Scotia reported declines in occupancy
points. All Atlantic Canada provinces reported an increase in average
daily room rate for the first quarter of 2005, with Newfoundland
experiencing the highest increase of 5.3% over the same period
in 2004.
CENTRAL CANADA RESULTS – First
quarter results for Central Canada showed hotels tracked by PKF
experiencing a slight increase of 0.2 occupancy points over the
same period in 2004. The average daily room rate for Central Canada
also reported an increase of 2.9% to $115.77 and 3.2% growth in
RevPAR. Quebec properties experienced a small increase of 0.8 points
in occupancy and both Quebec and Ontario reported growth in average
daily rates for the first quarter of 2005 over the same period
in 2004. Occupancy performance was led by Toronto Airport (69.6%)
while the highest average daily room rates were achieved in Downtown
Toronto at $139.62.
WESTERN CANADA RESULTS – In
Western Canada, overall occupancy for hotels tracked by PKF showed
an increase of 1.8 occupancy points to 57.0% for the first quarter
of 2005. Properties in Western Canada achieved a $104.53 average
daily room rate, a 0.9% decrease, which resulted in growth of 2.3%
in RevPAR to $59.56 over the same period in 2004. Hotels in Northwest
Territories and the Yukon reported occupancy increases of 9.1 and
5.2 occupancy points respectively for the first quarter of 2005.
First quarter results for 2005 showed that most Western Canada
provinces experienced increases in average daily room rate over
the first quarter of 2004. Whistler Resort Area led in occupancy
performance (71.3%) as well as average daily room rate ($273.32)
for the first quarter of 2005.
Occupancy Rate First Quarter Results
2005 vs. 2004
Average Daily Room Rate First Quarter Results
2005 vs. 2004
