The Canadian hotel market roared back in 2022! ADR was 10% greater than 2019 in spite of tenancy staying 6% lower, leading to a 3.5% RevPAR lift from pre COVID market efficiency.
More excellent news for hoteliers; when RevPAR development originates from ADR, NOI’s are healthier as are hotel worths. Fastest get better? Hotels less than 75 spaces in tertiary markets in Atlantic Canada. PEI and Newfoundland were the Provincial leaders with pre Covid RevPAR boosts of 16.7% and 16.1% respectively.
If you would like comprehensive hotel efficiency information for all of Canada, STR provides the Canadian hotel Review, which is readily available by yearly membership. For additional Information, please contact: email@example.com or 1 (615) 824-8664 ext. 3504.
HVS Canada carries out significant portfolio appraisals and single-asset consulting tasks and evaluations from coast to coast. Our expert group is professional in appraisal work, expediency research studies, market research studies, portfolio assessment, tactical company preparation, and lawsuits assistance. The handling partners in the Montreal, Toronto and Vancouver practices have their AACI, MAI, and MRICS/FRICS appraisal classifications, and all partners are prospect members of the Appraisal Institute of Canada. HVS partners and partners are likewise members of the Appraisal Institutes of Alberta, New Brunswick, and Nova Scotia. Our multilingual partners allow us to operate in French, which is of utmost value in the provinces of Quebec and New Brunswick.
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