Hotel managers in Canada pessimistic about fourth quarter occupancy rates

Hotel managers in Canada are less optimistic about the fourth quarter businesses. For the fourth quarter of 2009, almost two-thirds ( 65 percent) of the hotel managers in Canada expected occupancy rates to be lower than they were in last year, while eight percent anticipated increases, according to the Business Conditions Survey for the traveler accommodation industries released on Tuesday.

However, the hoteliers' outlook for the fourth quarter is less negative than it was in the previous quarter. In the survey for the third quarter of 2009, 76 percent of the hotel managers expected occupancy rates to be lower.

About one-third (31 percent) of the participants in the survey anticipated occupancy rates for the fourth quarter of 2009 remain the same, as a contrast, there were only 24 percent of the participants anticipated that way for the third quarter.

Regional economic conditions continued to be the most-cited business impediment (64 percent) for the fourth quarter of 2009. In contrast, only 29 percent of the respondents in the survey cited this as an impediment last year.

The Business Conditions Survey for the traveler accommodation industries ia a voluntary survey sent to 1453 businesses, mostly hotels.

Source: Xinhua