NATIONALLY, occupancy rates rose by 2.7 points to 56.6% in the first quarter of 2006 compared to the same period in 2005. In Quarter 1 2006, the average daily room rate increased by 4.7% to $114.00, which resulted in a Revenue Per Available Room (RevPAR) of $64.57, a 10.0% increase over the first quarter of 2005.
Hotel performance in Atlantic, Central and Western Canada all showed improvements in both occupancy percentage and average daily rate for the first three months of 2006 over the same period in 2005.
ATLANTIC CANADA RESULTS – The Atlantic provinces experienced a 48.5% overall occupancy and a 2.8% increase in average daily room rate, which resulted in a 3.9% increase in RevPAR. Hotels in Prince Edward Island, Nova Scotia and New Brunswick all showed increases in occupancy from the same quarter last year while hotel properties in Newfoundland reported a decline of 6.1 occupancy points. All Atlantic Canada provinces reported increases in average daily room rate for the first quarter of 2006, with Prince Edward Island experiencing the highest increase of 5.0% over the same period in 2005.
CENTRAL CANADA RESULTS – First quarter results for Central Canada showed hotels tracked by PKF experiencing an increase of 2.1 occupancy points over the same period in 2005. The average daily room rate for Central Canada also reported an increase of 3.5% to $119.39 and 7.6% growth in RevPAR. Ontario and Quebec properties experienced increases in both occupancy and average daily rates for the first quarter of 2006 over the same period in 2005. Occupancy performance was led by Toronto Airport (69.0%) while the highest average daily room rates were achieved in Downtown Toronto at $146.23.
WESTERN CANADA RESULTS – In Western Canada, overall occupancy for hotels tracked by PKF showed an increase of 4.0 occupancy points to 60.5% for the first quarter of 2006. Properties in Western Canada achieved a $110.41 average daily room rate, an increase of 6.5%, which resulted in growth of 13.9% in RevPAR to $66.83 over the same period in 2005. Hotels in Saskatchewan and Alberta (excluding resorts) reported occupancy increases of 7.2 and 6.1 occupancy points respectively for the first quarter of 2006. First quarter results for 2006 showed that all Western Canada provinces experienced increases in average daily room rate over the first quarter of 2005. The Other Alberta Communities market led in occupancy performance (85.9%) while Whistler Resort Area led in average daily room rate ($259.38) for the first quarter of 2006.
Occupancy Rate First Quarter Results
2006 vs. 2005
Average Daily Room Rate First Quarter Results
2006 vs. 2005
