Rate drives strong 2017 for Canadian hotels

Strong year-over-year rate growth, combined with moderate growth in occupancy, combined for a decidedly positive 2017 for hoteliers in Canada, according to the latest data from STR.

A 2.4% increase in occupancy to 65.9% and a 5.2% jump in average daily rate to 156.73 Canadian dollars ($127.27) combined for a 7.7% increase in revenue per available room to CA$103.31 ($83.89).

Analysts noted low supply growth and an increase in inbound visitors tied to the country’s 150th anniversary helped push occupancy to its highest absolute levels since 1999.