NATIONALLY, hotels tracked by PKF experienced an increase of 0.5 points in occupancy for the first nine months of 2007 from the same period in 2006. The average daily room rate rose by 3.4% to $129.14, which resulted in a Revenue Per Available Room (RevPAR) of $86.50, a 4.2% increase from 2006.
ATLANTIC CANADA RESULTS – Year to date results for Atlantic provinces showed an increase of 2.1 points in occupancy and a 2.4% improvement in average daily room rate, which resulted in a 5.8% increase in RevPAR. For the first nine months of 2007, Prince Edward Island experienced a decrease of 0.7 points in occupancy while Newfoundland and New Brunswick reported increases of 4.0 and 2.8 occupancy points respectively compared with figures from the same period in 2006. Average daily room rates increased in all Atlantic provinces, with Nova Scotia reporting an increase of 2.9% from 2006.
CENTRAL CANADA RESULTS - Year to date results for Central Canada showed hotels tracked by PKF reporting a decrease of 0.3 points in occupancy over the same period in 2006. The average daily room rate for Central Canada grew by 0.8% to $129.44 over 2006. RevPAR in Central Canada increased by 0.3% to $83.43 over last year. Ontario hotels reported a 0.3 point drop in occupancy for the first nine months of 2007 while average daily room rates increased by 1.3% to $127.19 from 2006.
WESTERN CANADA RESULTS – Overall occupancy in Western Canada properties increased by 1.3 points for the first nine months of 2007. Hotel properties in Western Canada reported a 6.8% increase in average daily room rate, which resulted in an 8.8% rise in RevPAR. Western Canada provinces experienced increases in occupancy with the exception of Alberta (excluding resorts) reporting a slight decease of 0.5 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 Alberta (excluding resorts) experiencing an increase of 11.3%.
Occupancy Rate – Third Quarter Results
2007 vs. 2006
Average Daily Room Rate – Third Quarter Results
2007 vs. 2006
