Saturday, November 23, 2024
Canada’s hospitality sector hit a historic high in October 2024, with 68.5% occupancy and ADR surpassing CAD 200, marking a record-breaking performance.
In October 2024, Canada’s hotel industry achieved a historic milestone as the average daily rate (ADR) exceeded CAD 200 for the first time, according to data from CoStar, a leading real estate marketplace and analytics platform.
The month recorded an occupancy rate of 68.5%, reflecting a 0.8% year-over-year increase. ADR climbed by 2.4% to CAD 200.59, while Revenue per Available Room (RevPAR) rose by 3.2% to CAD 137.32. The growth in…
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