Canada’s lodging market is absorbing the slowdown in the oil producing provinces and showing a positive RevPAR growth at 2.4%. Downtown Vancouver is leading with the highest RevPAR increase of 12.8%, closely followed by Downtown Toronto at 11.3%.
The lower Canadian dollar and strong economic fundamentals in many Canadian provinces, are outweighing the fallout from soft resource markets leading to positive growth across the country.
In 2015, the Canadian lodging industry experienced the highest level of transaction volume since 2007 with a total of more than $2.2 billion.
YTD through December the Canadian lodging sector seen an overall increase in ADR and RevPAR at 4.5% and 3.6% respectively. Vancouver again saw the highest RevPAR Increase at 17.8%. Occupancy Percentage decreased by 0.8% overall.
HVS Canada is pleased to announce the publication of the 2013 Canadian Hotel Valuation Index.
The Current Status of Hotel Development Activity and Construction Costs in Canada
Hotel Financing Parameters in Canada
Western Canada, specifically Alberta, Saskatchewan, and northeastern British Columbia, is in the midst of another energy boom.
Property Taxes in Canada
Rate Cutting: A look at Canada