STR report predicts Canadian hotel sector boost in 2017

Published on : Friday, June 23, 2017

strThe hotel industry of Canada is expected to witness a positive performance growth this year, till 2018, the revelation published in a quarterly report from STR and Tourism Economics.

 

Kobe Akuffo Owoo, the research analyst for STR said that the Canadian hotel sector had already received a record boost last year from 11% rise in inbound travel and this represented the highest for the nation ever since 2002. This is expected to wear a positive spectacle thanks to the forthcoming 150th anniversary of Confederation in Canada.

 

The festive event is believed to lure an increased number of visitors this July that would push the tourism arrivals further.

 

In the initial quarter of 2017, Canada had reported a 5.5% increase in revenue (Canadian dollars) per available room. And, this growth was driven equally by occupancy  (+2.7%) and an average daily rate (+2.7%). For the rest of the year, STR and Tourism Economics Project report states that there would be RevPAR rises of 5% in Q2, 2.7% in Q3 and 4.2% in Q4.

 

Owoo went on to state that Canada has actually been a witness to three periods with performance declines during the last 25 years.

 

He feels that since the last downturn, the demand in the country has surpassed the supply. For the year 2017, the leading three room-revenue-generating markets in the country are expected to achieve record RevPAR growth between 5% and 10%. Last year, Toronto had been able to contribute the maximum share equaling to nearly 11.1% of room revenue in the country. It was closely followed by Vancouver (8.4%, and Montreal (7.3%).

 

Established in 10 nations across the world STR has a strong presence. It has its North American headquarters in Hendersonville, Tennessee and international headquarters in London, England.

 

Tags: , ,

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 01 AIME 2018 BB
  • 02 WTM 2017
  • 03 EMITT 2018
  • 04 AIME-2018 small
  • 05 iitmindia 2017
  • 06 imtm 2018
  • 06 TTF-Surat 2017
  • 07 balttour 2018
  • 08 OTM 2018
  • 30 PATA

TRAVEL INDUSTRY EVENTS

Get our toolbar!
Review www.travelandtourworld.com on alexa.com