NATIONALLY, occupancy rates rose by 1.1 points to 57.4% in the first quarter of 2007 compared to the same period in 2006. In Quarter 1 2007, the average daily room rate increased by 4.6% to $119.26, which resulted in a Revenue Per Available Room (RevPAR) of $68.50, a 6.7% increase over the first quarter of 2006.
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 2007 over the same period in 2006.
ATLANTIC CANADA RESULTS – The Atlantic provinces experienced a 50.7% overall occupancy and a 3.3% increase in average daily room rate, which resulted in an 8.2% increase in RevPAR. Hotels in Newfoundland, Nova Scotia and New Brunswick all showed increases in occupancy from the same quarter last year while hotel properties in Prince Edward Island reported a slight decline of 1.1 occupancy points. All Atlantic Canada provinces reported increases in average daily room rate for the first quarter of 2007, with New Brunswick experiencing the highest increase of 4.0% over the same period in 2006.
CENTRAL CANADA RESULTS – First quarter results for Central Canada showed occupancies to be flat relative to the same period in 2006, however, the average daily room rate for Central Canada increased by 1.9% to $121.41 resulting in a 2.0% growth in RevPAR. Ontario and Quebec properties experienced increases in both occupancy and average daily rates for the first quarter of 2007 over the same period in 2006. Occupancy performance was led by Toronto Airport (70.6%) while the highest average daily room rates were achieved in Downtown Toronto at $153.63.
WESTERN CANADA RESULTS – In Western Canada, overall occupancy for hotels tracked by PKF showed an increase of 2.2 occupancy points to 62.5% for the first quarter of 2007. Properties in Western Canada achieved a $119.39 average daily room rate, an increase of 8.0%, which resulted in growth of 12.0% in RevPAR to $74.60 over the same period in 2006. The most significant provincial occupancy increases were reported in the Yukon and Manitoba (12.5 and 5.1 occupancy points respectively) for the first quarter of 2007. First quarter results for 2007 showed that all Western Canada provinces experienced increases in average daily room rate over the first quarter of 2006. The Other Alberta Communities market led in occupancy performance (77.9%) while Whistler Resort Area led in average daily room rate ($276.04) for the first quarter of 2007.
Occupancy Rate First Quarter Results
2007 vs. 2006
Average Daily Room Rate First Quarter Results
2007 vs. 2006
