Market Reports

The industry’s occupancy increased 7.1 percent to 53.5 percent, average daily rate rose 1.9 percent to US$98.25, and revenue per available room was up 9.1 percent to US$52.59.

Published in conjunction with STR (Smith Travel Research) and endorsed by the Hotel Association of Canada. This publication summarizes occupancy and average room rates from major cities in Canada.

PwC US’s updated lodging forecast expects recovery in lodging industry fundamentals to transition from the initial, demand-driven stage of rebound, to the next stage, which will be largely driven by growing pricing power for hotels.

Square Footage Meeting Space Occupied, Square Footage Catered, Estimated Number of Attendees

The industry’s occupancy increased 5.7 percent to 57.6 percent, average daily rate ended the year virtually flat with a 0.1-percent decrease to US$98.08, and revenue per available room was up 5.5 percent to US$56.47.

Australia has fared reasonably well in the recent economic downturn with year-over-year revenue per available room (RevPAR) up a steady 7.1 percent in year-to-date November 2010.

Published in conjunction with STR (Smith Travel Research) and endorsed by the Hotel Association of Canada. This publication summarizes weekly occupancy and average room rates from major cities in Canada.

In year-over-year comparisons, occupancy increased 4.5 percent to 49.9 percent, average daily rate was up 3.0 percent to US$97.59, and revenue per available room finished the week up 7.6 percent to US$48.70.

In year-over-year measurements, the Canadian hotel industry’s occupancy ended the week with a 0.8-percent increase to 49.4 percent. Average daily rate decreased 1.0 percent to CAD$117.62. Revenue per available room ended the week virtually flat with a 0.1-percent decrease to CAD$58.12.

The economic climate of the past few years has been difficult on many consumers, but it seems not everyone is coming out of the recent recession on equal footing. Research conducted by the market research firm Mintel shows that 45-54-year-olds (younger Baby Boomers and older Gen X respondents) will definitely be taking longer to recover. For instance, 47% of that group (vs. 33% overall) say they ‘have only been spending money on necessities’ for at least a year.