Kitchener Hotels Broke Revenue Records in 2019, Data Shows – NBC10 Kitchener

The Kitchener hotel industry had a healthy year of growth and set sales records in 2019, according to new data released Tuesday.

Annual figures compiled by the city, Visit Kitchener, the Greater Kitchener Hotel Association and the Kitchener Convention and Visitors Bureau highlight the city’s growing popularity as a tourist and business travel destination.

Room revenue was a record $ 707 million in 2019, up 4.3% from $ 678 million in 2018. Meanwhile, Kitchener saw a new increase in revenue per available room – or at $ 154 RevPar, an important key figure for the industry – and thus 1.2% more than the previous year.

Hotels also posted a record daily rate of $ 202.41 in 2019, up 5.8% year over year from $ 191.40 in 2018. The jump was driven by factors such as a notable year in convention, increased business demand coupled with strong Leisure demand and an increase in high-end room stocks and a steady increase in average daily rates in recent years, the organizations said. The numbers mark a decade of growth for the industry, they added.

For more information on Kitchener hotel revenue for 2019, visit PBJ.com.

Get all of your business news in the Kitchener Business Journal.

Comments are closed.