Canadian hoteliers' business outlook less pessimistic

Canadian hoteliers' business outlook for the traveller accommodation industries was less pessimistic for the first quarter than it had been in the previous four quarters.

One-half of hotel managers expected occupancy rates in the first quarter of 2010 to be lower than they were in the same quarter last year, while 15% anticipated increases. Thus, the balance of opinion, or the difference between the two, was -35.

Similarly, hoteliers' expectations related to average daily room rates, the number of corporate travellers, the number of hours worked by employees, and the number of room nights booked all continued to be negative for the first quarter, though more positive than they had been since early 2009.

Heading into the first quarter, regional economic conditions, excess room supply, and exchange rate fluctuations continued to top the list of business impediments, according to hotel managers.

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