According to the Q4 2024 Canada Construction Pipeline Trend Report by Lodging Econometrics (LE), Canada’s total construction pipeline has reached record-breaking counts of 333 projects/43,413 rooms, showing robust growth of 13 per cent for both projects and rooms year-over-year (YOY).
At year-end 2024, projects under construction stand at 76 projects/10,442 rooms, up 15 per cent by projects and 16 per cent by rooms YOY. Projects scheduled to start construction in the next 12 months total 87 projects/11,698 rooms, reflecting a modest 2 per cent increase in projects but a substantial 19 per cent increase in rooms YOY. Projects in early planning also experienced significant growth at Q4 with a 19 per cent increase by projects and 9 per cent by rooms YOY, to close the quarter with 170 projects and a record-high 21,273 rooms.
By chain scale, upper midscale hotels dominate with 132 projects/14,039 rooms, representing 40 per cent of the total projects and 32 per cent of rooms in the pipeline. The upper upscale segment follows with 62 projects/8,570 rooms, while upscale properties have achieved record highs of 25 projects/5,591 rooms.
Ontario continues to lead by far in provincial development at the Q4 close, achieving historic highs with 200 projects/26,976 rooms, showing impressive growth of 16 per cent by projects and 17 per cent by rooms YOY and accounting for 60 per cent of the country’s total pipeline. British Columbia follows with 59 projects/8,480 rooms, then Quebec with 24 projects/2,714 rooms. Manitoba has reached record highs of 14 projects/1,432 rooms.
The top cities in Canada’s construction pipeline are led by Toronto, which has achieved new all-time highs with 70 projects/10,053 rooms, representing 21 per cent of the country’s total pipeline projects. Vancouver follows with record counts of 25 projects/4,375 rooms, then Niagara Falls with historic highs of 20 projects/5,652 rooms, Montreal with 18 projects/2,199 rooms, and Ottawa-Hull with a record-high 14 projects totaling 1,991 rooms.
Renovation and brand conversion activity reached new highs as well. Conversions achieved record counts of 83 projects/8,218 rooms, while combined hotel renovations and brand conversions hit an historic high of 120 projects totaling 14,974 rooms, up 10 per cent by projects and 18 per cent by rooms YOY. New project announcements (NPAs) remain strong, with 36 projects/5,057 rooms announced in Q4 2024.
Through Q4 2024, Canada opened 15 new hotels with 1,478 rooms. LE is forecasting 43 new hotels/5,321 rooms to open in 2025, representing continued growth in supply. The forecast for 2026 anticipates another 43 new hotels, bringing 6,547 additional rooms to Canada’s room supply.
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