According to the Q4 2022 Hotel Construction Pipeline Trend Report for Canada by Lodging Econometrics (LE), LE analysts report that Canada’s total construction pipeline stands at 267 projects/35,758 rooms, up 2% by projects and 1% by rooms year-over-year (YOY).
Canada hotel occupancy eclipsed pre-pandemic comparable in July
Canada’s hotel occupancy each month came in higher than in 2019 comparable for the first time in the pandemic era,
Projects in Canada’s construction pipeline are up slightly year-over-year
Total construction pipeline in Canada stands at 261 projects/35,662 rooms, up 3% by projects year-over-year (YOY) and up 7% by rooms YOY.
Canada hotels post best performance of the pandemic-era
Canada’s hotel performance was the highest of the pandemic-era, with monthly hotel room rates reaching an all-time high.
Canada hotels post highest rates since September 2019
Canada’s monthly hotel performance improved from the previous month yet again, and room rates reached the highest level since September 2019.
Canada hotel performance up again in April
Canada’s monthly hotel performance improved once again from the previous month and showed better-indexed comparisons.
Canada tourism sector could reach pre-pandemic levels next year
ravel & Tourism’s GDP expected to grow more than twice rate of the overall economy for the next 10 years.
Province of Ontario leads Canada’s hotel construction pipeline
At the close of the first quarter, projects under construction in Canada stand at 62 projects/8,114 rooms.
Canada hotel rates exceeded 2019 levels in March
Canada’s monthly hotel rates exceeded 2019 levels for the first time since the pandemic began.
Sheraton Hotels & Resorts reveals its new vision in Canada
Three newly reimagined properties in Toronto and Montreal begin momentum for the brand’s global design transformation journey.
