Canada hotels record first occupancy decline in three months
After three consecutive months of year-over-year increases, Canada’s hotel industry recorded a decline in occupancy, according to CoStar’s July 2024 data.
IHG Hotels & Resorts has expanded its hotel pipeline with its brands in Canada under its suites portfolio, Candlewood Suites and Staybridge Suites.
There are currently 15+ Extended Stay properties in the pipeline with IHG in Canada.
Scott T. Duff, vice president of development in Canada, says: “In recent years, extended stay hotels have fast become a popular option for those looking for a cost-effective and convenient stay, providing the comforts of home while away, as well as access to many of the same amenities and services you would expect from a traditional hotel. To meet this growing demand, we are prioritizing the growth of the IHG Hotel & Resorts Suites portfolio, forecasting a 45 per cent increase in its current system size globally, with Candlewood Suites and Staybridge Suites accounting for 12 new property openings and 34 new signings globally in the first half 2023.”
Identified as a huge growth opportunity for IHG's existing portfolio, dual-branding allows IHG to diversify its hotel offerings, giving travellers access to both short-term stays through brands such as Holiday Inn or avid hotels, as well as its three extended stay brands.
This Fall, IHG Canada will celebrate the opening of the Staybridge Suites Port Elgin and Candlewood Suites Collingwood, both adjacent to high-performing Holiday Inn Express properties. Staybridge Suites Port Elgin is located at 1208 Goderich St Port Elgin, ON N0H 2C0. Candlewood Suites Collingwood is located at 502 Hume Street Collingwood, ON L9Y 4H8—The hotel is a 15 minute drive to Ontario's premier four-season Blue Mountain resort which features numerous seasonal activities such as skiing, snowboarding, snowshoeing and skating.
Port Elgin and Collingwood are attractive regions for leisure travellers as well as those in the energy, mining and natural resources sector. Both hotels are owned and operated by Canadian companies and are slated to open in the upcoming months, with Staybridge Suites Port Elgin opening on October 31 and Candlewood Suites Collingwood opening on November 21.
After three consecutive months of year-over-year increases, Canada’s hotel industry recorded a decline in occupancy, according to CoStar’s July 2024 data.
Opened in 2019 as the largest Residence Inn in the world, the 390-suite Residence Inn Calgary is a 33-storey property located in the Beltline District in downtown Calgary.
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