image credit: Adobe Stock

CoStar Reports Canada Hotel Occupancy Reached Four-Year High in August

September 22, 2023

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.

Read More on Hotel News Resource