Canada’s hotel industry reported its highest occupancy level since August 2019, according to CoStar’s August 2023 data.
August 2023 (percentage change from August 2022):
- Occupancy: 77.4% (+1.4%)
- Average daily rate (ADR): CAD226.04 (+5.8%)
- Revenue per available room (RevPAR): CAD174.87 (+7.2%)
“Although year-over-year growth has moderated from earlier this year, performance improvement in August was still a considerable achievement against stronger metrics from last summer’s ‘revenge travel’ period,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Canada.
