Canadian Lodging Outlook Quarterly 2022-Q4
The Canadian hotel industry roared back in 2022! ADR was 10% higher than 2019 in spite of occupancy remaining 6% lower, resulting in a 3.5% RevPAR lift from pre COVID market performance. More good news for hoteliers; when RevPAR growth emanates from ADR, NOI’s are healthier as are hotel values. Fastest bounce back? Hotels less than 75 rooms in tertiary markets in Atlantic Canada. PEI and Newfoundland were the Provincial leaders with pre Covid RevPAR increases of 16.7% and 16.1% respectively.
Recent Trends in Vacationland: The Ebb and Flow of the Coastal Maine Lodging Market
Since the onset of the COVID-19 pandemic, the Coastal Maine market, including Portland, has experienced a renaissance of leisure travel. This seasonal drive-to market has remained a stalwart of the New England region, while corporate and group-focused urban cores have been slower to rebound. Pent-up demand has catapulted Coastal Maine markets beyond pre-COVID peaks. This article highlights the market’s triumphs and challenges in recent years.
Canadian Lodging Outlook Quarterly 2022-Q3
Given the high average rates achieved over the last quarter, Nationwide RevPAR is now onpar with 2019 through the month of September. Average rates need to be held firmly to continue onpar as Business Travel and Meeting and Group are not back yet.
Canadian Lodging Outlook Quarterly 2022-Q2
In spite of a very soft Q1 in 2022 the RevPAR decline has closed to 11.1% year-to-date through June over 2019 in comparison to the RevPAR decline of 62.3% at year end 2020 over 2019. Canadian airport markets are leading the recovery with occupancy rates while downtown markets are experiencing unprecedented ADRs. The luxury segment is witnessing the greatest ADR growth coupled with still the greatest decrease in market demand. These are definitely interesting times in the hotel industry!
HVS Monday Musings: Reviving Luxury Trains in India
Luxury trains are making a comeback around the world following a COVID-induced hiatus. India’s Palace on Wheels and the Maharajas' Express, two of the world’s best luxury trains, are also set to return later this year. Read on to know more.
HVS Monday Musings: Ancillary Revenue Opportunities – Only Our Imagination Limits Us!
The hotel ancillary revenue revolution is expected to gain momentum in the Indian hotel industry, with more radical revenue-generating avenues gradually finding favor. Read on to know more.
HVS Monday Musings: Sports Tourism – A Rewarding Opportunity for Hotels
Sports tourism has uplifted and changed the fortunes of the hotel industry globally after COVID. Read on to know more.
Canadian Lodging Outlook Quarterly 2021-Q4
In 2021 limited/select service hotels which represent almost half of the hotels in Canada are leading the recovery over 2019 with hotel demand down by 20% and average rate down by 8% resulting in a RevPAR decrease of 28%. We will be much closer to recovery when the removal of COVID restrictions allow our full-service hotels to follow in the limited/select service footsteps.
Canadian Lodging Outlook Quarterly 2021-Q3
RevPAR across Canada September YTD is up 18% but still only at 45% of September YTD 2019. 2022 should prove to be a strong recovery year!
Canadian Lodging Outlook Quarterly 2021-Q2
Limited-Service hotels are leading the recovery in 2021 with YTD June showing higher occupancy than in 2020 and RevPAR down only just over $1. Full-Service hotels face greater challenges but the light at the end of the tunnel is starting to shine!