Tourism. Canada's Hoteliers are Pessimistic

Canada's hoteliers were not optimistic in their outlook for the first quarter of 2009. Their business expectations were the most negative they have been since the survey began in 2005.

Two-thirds (67%) of hoteliers expected the number of room nights booked to be lower than they were in the first quarter of 2008. Similarly, 66% anticipated lower occupancy rates, and 65% expected fewer corporate travellers.

In contrast, less than 10% of hoteliers anticipated that room nights booked, occupancy rates and the number of corporate travellers would be higher than they were in the first quarter of 2008.

For the first time since the survey began, more hoteliers (37%) expected room rates to be lower than those that expected the rates to be higher (13%).

About 63% expected that the number of hours worked by their employees would decline, while 2% of respondents expected increases.

When asked which business impediments were faced in the fourth quarter of 2008, 46% of respondents cited regional economic conditions, followed by exchange rate fluctuations, reported by 40%.

Source: Statistics Canada, Febr. 6, 2009

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