Issue link: http://tourismwpg.uberflip.com/i/1024529
8 The Winnipeg Barometer Report | Volume 9, 2018 Canadian Lodging According to CBRE Hotels, the forecasted trend for the national accommodation sector in 2018 is continued growth over 2017. For 2018, they are projecting the national occupancy rate will remain flat at 66 per cent. Average daily rate (ADR) is expected to grow 4.0 per cent to $161 from $155. Revenue per available room (RevPAR) is projected to expand an additional 4.7 per cent to $107 from $102 in 2017. After five months into 2018, Canada's average occupancy rate was 60.5 per cent, up 1.2 percentage points from last year. The ADR was $150 compared to $144 in 2017 (growth of 4.5 per cent) and RevPAR was up 6.6 per cent to $90.82. Hotels with under 50 rooms experienced occupancy growth of 2.4 per cent between January and May 2018. Hotels with 50-125 rooms saw their occupancy rate grow between 1.1 and 1.4 points. Medium size hotels with 126 to 500 rooms had minor growth under 1.0 per cent whereas hotels with more than 500 rooms saw no growth in their occupancy rate. By property type, limited service (1.7 per cent) and full service (1.3 per cent) were the only hotel properties to experience growth in occupancy of 1.0 per cent or greater. Suite hotel and resort properties both experienced a drop in occupancy of 0.2 and 0.1 respectively. Looking at RevPAR growth in Canadian CMA's as of May 2018 YTD, the area of greatest growth is occurring in Greater Victoria at 20.0 per cent. Following Victoria was the Greater Vancouver area at 14.2 per cent, Regina CMA at 11.5 per cent and the Greater Toronto Area at 9.9 per cent. In comparison, RevPAR growth in the Winnipeg CMA was up 1.1 per cent. The Greater Montreal and the Ottawa CMA were the only markets to experienced negative change in their RevPAR; down 3.6 and 1.1 per cent respectively. Canada, Lodging Trends, Forecast Canada 2017 Actual 2018 Forecast 2018 % Change Occupancy Rate 66% 66% 0.0* Average Daily Rate $155 $161 +4.0 Revenue Per Available Room $102 $107 +4.7 Source: CBRE Hotels; * Point change Canada, Lodging Trends, May YTD Actual Canada 2017 Actual 2018 Forecast 2018 % Change Occupancy Rate 59% 61% +1.2* Average Daily Rate $144 $150 +4.5 Revenue Per Available Room $85 $91 +6.6 Source: CBRE Hotels; * Point change RevPAR Growth in Canadian CMAs, May 2018 YTD Source: CBRE Hotels