NATIONALLY, hotels tracked by PKF experienced a decrease of 1.1 points in occupancy for the first nine months of 2008 from the same period in 2007. The average daily room rate rose by 3.3% to $132.58, which resulted in a Revenue Per Available Room (RevPAR) of $87.08, a 1.5% increase from 2007.
ATLANTIC CANADA RESULTS – Year to date results for Atlantic provinces showed a decrease of 1.4 points in occupancy and a 4.0% improvement in average daily room rate, which resulted in a 1.8% increase in RevPAR. For the first nine months of 2008, Newfoundland reported an increase of 2.0 occupancy points compared with the same period in 2007. Nova Scotia and New Brunswick experienced decreases of 2.9 and 2.1 occupancy points respectively. Average daily room rates increased in all Atlantic provinces, with New Brunswick reporting the highest increase of 5.8% from 2007.
CENTRAL CANADA RESULTS - Year to date results for Central Canada showed hotels tracked by PKF reporting a decrease of 0.8 points in occupancy over the same period in 2007. The average daily room rate for Central Canada grew by 1.6% to $131.16 over 2007. RevPAR in Central Canada increased by 0.3% to $83.00 over the same period in 2007. Ontario hotels reported a 0.7 point drop in occupancy for the first nine months of 2008 while average daily room rates increased by 1.0% to $128.12 from 2007.
WESTERN CANADA RESULTS– Overall occupancy in Western Canada properties decreased by 1.5 points for the first nine months of 2008. Hotel properties in Western Canada reported a 5.2% increase in average daily room rate, which resulted in a 3.0% rise in RevPAR. Alberta, British Columbia and Northwest Territories reported decreases in occupancy while Manitoba, Saskatchewan and the Yukon experienced occupancy increases over the same period in 2007. Year to date results showed that all Western Canada provinces reported increases in average daily room rate over the same period last year, with Saskatchewan experiencing the highest increase of 8.8%.
Occupancy Rate – Third Quarter Results
2008 vs. 2007
Average Daily Room Rate – Third Quarter Results
2008 vs. 2007
