YEAR TO DATE RESULTS FOR 2009
NATIONALLY, hotels tracked by PKF Consulting Inc. experienced a decrease of 5.4 points in occupancy for the first nine months of 2009 from the same period in 2008. The average daily room rate fell by 5.0% to $126.13, which resulted in a Revenue Per Available Room (RevPAR) of $75.91, a 12.9% decrease from 2008.
ATLANTIC CANADA RESULTS – Year to date results for Atlantic provinces showed a decrease of 3.2 points in occupancy and a 1.2% drop in average daily room rate, which resulted in a 6.3% decrease in RevPAR. For the first nine months of 2009, Newfoundland reported an increase of 0.7 occupancy points compared with the same period in 2008. Nova Scotia and New Brunswick experienced decreases of 4.2 and 4.5 occupancy points respectively. Prince Edward Island experienced a 1.5% increase in average daily room rate over the same period in 2008.
CENTRAL CANADA RESULTS - Year to date results for Central Canada showed hotels tracked by PKF reporting a decrease of 4.8 points in occupancy over the same period in 2008. The average daily room rate for Central Canada dropped by 6.4% to $122.61 over 2008. RevPAR in Central Canada decreased by 13.5% to $71.68 over the same period in 2008. Ontario hotels reported a 4.8 point drop in occupancy for the first nine months of 2009 and experienced a 6.2% decline in average daily room rates from $127.79 in 2008 to $119.93 in 2009.
WESTERN CANADA RESULTS– Overall occupancy in Western Canada properties decreased by 6.7 points for the first nine months of 2009. Hotel properties in Western Canada reported a 3.8% decline in average daily room rate, which resulted in a 13.1% drop in RevPAR. All Western Canada provinces reported decreases in occupancy with the exception of the Yukon which experienced an occupancy increase of 4.0 points over the same period in 2008. Year to date results showed that Saskatchewan experienced an increase of 5.9% in average daily room rate over the first nine months of 2009 from $109.20 in 2008 to $115.67 in 2009.
Occupancy Rate – Third Quarter Results
2009 vs. 2008
Average Daily Room Rate – Third Quarter Results
2009 vs. 2008
