Intelligence
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.
News
The Fairmont Royal York Hotel in Toronto gets net‑zero retrofit
Guests who check in to Toronto’s Fairmont Royal York Hotel this fall may want to check out what the hotel is doing about climate change.
The iconic 94-year-old landmark is getting a $46.5-million retrofit to reduce its carbon emissions, with the ultimate goal of becoming a net-zero, carbon-neutral building, as reported in The Globe and Mail.
At least 80 per cent of carbon emissions from the Royal York’s operations, including heating, cooling, cooking, washing and cleaning systems, are expected to be reduced by the end of this year.
The Royal York’s owners, KingSett Capital, and the Fairmont chain that operates the hotel, are seeking to gain a Canada Green Building Council’s Zero Carbon Building Standards Certification later this year. While the work is well underway already, the hotel aims to publicly celebrate its net-zero status this November.
