Accommodation services operating revenue cut by more than one-third in 2020
The operating revenue of the accommodation services subsector dropped by 36.7% in 2020 to $17.0 billion—the lowest level since 2012. The COVID-19 pandemic was the driving force behind the decline, as border restrictions were put in place for international travellers and domestic travel was curtailed. Ontario (28.3%) accounted for the largest share of revenue, followed by British Columbia (22.3%), Alberta (18.5%) and Quebec (16.7%).
Similarly, operating expenses fell to $16.2 billion in 2020—a 30.1% decline compared with 2019. Salaries, wages, commissions and benefits (26.2%) contributed the most to expenses, followed by the cost of goods sold (14.3%)—mainly for food products and alcoholic beverages—and by amortization and depreciation (12.4%).
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