Canada’s hotel industry reported its highest performance since September 2022, according to STR‘s May 2023 data.
Sydney WorldPride 2023 drove the market’s hotel average daily rate (ADR) and revenue per available room (RevPAR) above pre-pandemic levels, while occupancy remained slightly below 2019, according to preliminary data from STR.
Hotel operators need to learn to manage the entire building they operate and start thinking of performance in terms of the total revenue or profit per available square meter, giving a more accurate assessment of the property’s success.
Canada’s hotel performance fell slightly from the previous month but surpassed the 2019 comparables, according to STR‘s January 2023 data.
Abu Dhabi’s hotel occupancy remained roughly 5 percentage points lower than pre-pandemic levels, while average daily rate (ADR) and revenue per available room (RevPAR) far exceeded recent comparables for the month, according to preliminary January 2023 data from STR.
Never miss a trend.