Tourism. Canadian hoteliers' business expectations negative

Canadian hoteliers' business expectations for the third quarter of 2009 were negative relative to their business performance during the same quarter a year earlier. Their negative outlook was similar to that observed in the previous two quarters.

Over three-quarters (76%) of hoteliers expected the number of room nights booked and occupancy rates to be lower than they were in the third quarter of 2008. In contrast, 5% expected higher bookings and occupancy.

Similarly, 74% anticipated fewer corporate travellers this summer. Two-thirds of respondents expected that the number of hours worked by their employees would decline.

Well over half (62%) of hotel managers reported that they expected average daily room rates to be lower, while 7% anticipated rates would be higher. This is the third consecutive quarter in which more respondents have expected lower room rates than higher.

The most commonly-cited business impediment reported by hoteliers was regional economic conditions, which was the case in the previous two quarters. The next two most-cited were excess room supply (37%) and exchange rate fluctuations (34%).

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