WASHINGTON – Canada’s resort efficiency was lifted by Taylor Swift’s Eras Tour in addition to a calendar shift, in line with November information from CoStar. CoStar is a number one supplier of on-line actual property marketplaces, info and analytics within the property markets.

November 2024 (proportion change from 2023):

• Occupancy: 62.4% (+1.0%)
• Common day by day fee (ADR): CAD196.25 (+9.7%)
• Income per accessible room (RevPAR): CAD122.46 (+10.8%)

The November RevPAR improve was the best for any month this 12 months.

Taylor Swift’s Eras Tour was the principle supply of enchancment in November, with downtown Toronto averaging room charges of $779 over the six-night interval. These robust charges confirmed up within the nationwide segmentation information as effectively, with transient and weekend charges rising 11.5% and 12.1%, respectively. Luxurious accommodations benefited essentially the most, up 19.3% within the metric.

Though the live performance dates have been the driving force of general efficiency, a month-to-month calendar shift additionally contributed, as there was one additional Friday and Saturday in comparison with 2023, with weekend charges 7% larger than weekdays. Laura Baxter, CoStar Group’s director of hospitality analytics for Canada

Among the many provinces and territories, Ontario recorded the best occupancy stage (67.4%), which was 2.6% above 2023.

Among the many main markets, Toronto noticed the best occupancy (76.4%), up 3.7% over November 2023.

The bottom occupancy amongst provinces was reported in Prince Edward Island (42.8%), down 9.1% in opposition to 2023.

On the market stage, the bottom occupancy was reported in Calgary (-1.0% to 56.6%).

Of word, the influence of Taylor Swift’s Vancouver reveals might be seen within the December information, with the three-day ADR within the downtown submarket at a preliminary worth of $1,204. The best efficiency ranges got here on Saturday, 7 December, with room charges reaching $1,319, up 424% 12 months over 12 months. When mixed with the 96% occupancy on that evening, RevPAR reached $1,269, which was the best RevPAR stage on report for Downtown Vancouver, Baxter stated.

For extra details about the corporate and its services, please go to www.costargroup.com.

Extra Efficiency Information

CoStar’s world-leading resort efficiency pattern contains 85,000 properties and 11 million rooms across the globe. Members of the media ought to seek advice from the contacts listed beneath for extra information requests.

About CoStar Group, Inc.

CoStar Group (NASDAQ: CSGP) is a number one supplier of on-line actual property marketplaces, info, and analytics within the property markets. Based in 1987, CoStar Group conducts expansive, ongoing analysis to provide and keep the biggest and most complete database of actual property info. CoStar is the worldwide chief in industrial actual property info, analytics, and information, enabling purchasers to research, interpret and acquire unmatched perception on property values, market circumstances and availabilities. Residences.com is the main on-line market for renters searching for nice house properties, offering property managers and homeowners a confirmed platform for advertising their properties. LoopNet is essentially the most closely trafficked on-line industrial actual property market with 13 million common month-to-month world distinctive guests. STR gives premium information benchmarking, analytics, and market insights for the worldwide hospitality business. Ten-X presents a number one platform for conducting industrial actual property on-line auctions and negotiated bids. Properties.com is the quickest rising on-line residential market that connects brokers, consumers, and sellers. OnTheMarket is a number one residential property portal in the UK. BureauxLocaux is likely one of the largest specialised property portals for getting and leasing industrial actual property in France. Enterprise Immo is France’s main industrial actual property information service. Thomas Day by day is Germany’s largest on-line information pool in the true property business. Belbex is the premier supply of economic house accessible to let and on the market in Spain. CoStar Group’s web sites attracted over 163 million common month-to-month distinctive guests within the third quarter of 2024. Headquartered in Washington, DC, CoStar Group maintains places of work all through the U.S., Europe, Canada, and Asia. Occasionally, we plan to make the most of our company web site, CoStarGroup.com, as a channel of distribution for materials firm info. For extra info, go to CoStarGroup.com.

This information launch consists of «forward-looking statements» together with, with out limitation, statements relating to CoStar’s expectations or beliefs relating to the long run. These statements are primarily based upon present beliefs and are topic to many dangers and uncertainties that would trigger precise outcomes to vary materially from these statements. The next elements, amongst others, may trigger or contribute to such variations: the danger that future media occasions is not going to maintain a rise in future occupancy charges. Extra details about potential elements that would trigger outcomes to vary materially from these anticipated within the forward-looking statements embrace, however are usually not restricted to, these said in CoStar’s filings on occasion with the Securities and Alternate Fee, together with in CoStar’s Annual Report on Kind 10-Ok for the 12 months ended December 31, 2023 and Kinds 10-Q for the quarterly intervals ended March 31, 2024, June 30, 2024, and September 30, 2023, every of which is filed with the SEC, together with within the «Danger Components» part of these filings, in addition to CoStar’s different filings with the SEC accessible on the SEC’s web site (www.sec.gov). All forward-looking statements are primarily based on info accessible to CoStar on the date hereof, and CoStar assumes no obligation to replace or revise any forward-looking statements, whether or not because of new info, future occasions or in any other case.

Haley Luther
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