The Global Hotel Industry Outlook report provides expert insights into regional performance for Asia, Canada, Europe, India, Mexico, Middle East, and the United States
The 2019 Western Canadian Lodging Conference (WCLC) that was held on November 25 and 26, 2019 in Vancouver. Caution was the dominant sentiment expressed at the event as the industry expects a slowdown in the near term.
RevPar growth across Canada is flat through the third quarter of 2019. On a provincial level, BC leads the pack with over 3.0% growth with Quebec on its heels at 2.5%. Newfoundland struggles to absorb new supply with a near 6.0% decline and Manitoba's softer market leads to a 3.0% decrease.
HVS C&V leaders offer the pulse of their markets heading into the fall season. Out of 23 markets discussed, ten are rated as hot, nine are rated as mild, and the remaining four are rated as cooling.
The hotel industry in Canada continues through midyear with solid demand and ADR growth. PEI leads the provinces in demand growth and British Columbia continues to trump ADR growth.
HVS reviewed and analyzed the current lending environment for hotels following a comprehensive survey conducted among Canadian hotel lenders.
Absorption of new inventory of rooms across the country is putting downward pressure on national occupancy; average rate continues to grow, albeit at a slower pace.
In 2018, Los Angeles welcomed a record 50 million visitors, with hotel occupancies and average rates reaching peak levels. Nevertheless, hotels have begun to feel the effects of new supply. This article provides an outlook for 2019.
The Canadian hotel industry blew it out of the park once again in 2018! Growth in demand outpaced growth in new supply 2:1, leading to never before seen levels of national occupancy and average rate.
The HVS 2018 Canadian Hotel Valuation Index (HVI) not only released countrywide hotel values for 2017 but also projects the direction of these values through 2021.