Quarterly Hotel Update, as of June 2023
The first half of 2023 hotel stats are in, and the numbers have surpassed 2019!
In the second quarterly hotel update of the year, we will continue to focus on Occupancy percentages in 2023, Year-to-Date, and 2023 vs 2019. The other hotel variables (Revenue, Average Daily Rate (ADR) and Revenue Per Available Room (RevPAR)) are also up, and actually the highest in our reporting history, however, these numbers are significantly impacted by inflation, making it problematic to compare Year-Over-Year figures, especially to pre-COVID years.
2023 Occupancy Key Highlights:
- Not only are hotel occupancy levels in 2023 returning back to normal pre-COVID years, they are mirroring seasonal patterns of travel and also surpassing 2019 occupancy percentages!
- When comparing the first six months of 2023 hotel data to the same time period from past years, the average 2023 Year-to-Date occupancy % is at the highest it has been in history.
- The average quarterly data is also highest in 2023.
- Overall, the data appears to be pointing towards a strong year for the hotel sector, as 2023 has been consistently performing better than 2019 month-over-month!
RTO6 Hotel Occupancy (%) for 2019, 2022 & 2023 Year-to-Date & Average (Quarterly & YTD)
Click on the regional hotel reports below to see the Revenue, Average Daily Rate and Revenue Per Available Room for:
If this trend in visitation continues to mirror the seasonal patterns of pre-COVID years, tourism stakeholders should expect the next few months to be busy with visitors exploring our region to take in the Fall colours, and should use this opportunity to showcase their products/services and passion. This includes collaborating with the accommodation sector and other tourism businesses that share the same markets, working together for continued growth of our visitor economy. For further assistance in identifying your target markets, please contact Tom Guerquin, Manager of Research & Development at Central Counties Tourism.
