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
Victoria City council to fund affordable housing for hospitality workers
Victoria City Council’s Committee has agreed to fund an affordable workforce housing project aimed at addressing the critical issue of suitable and affordable housing for hotel and hospitality workers in the region, as reported by Nanaimo News Bulletin.
Approval of the Greater Victoria Housing Society’s request for $2.5 million from the Victoria Housing Reserve Fund will assist with the construction of a 40-unit affordable workforce housing project in the Quadra Village area of Victoria. This decision is in accordance with a Destination Greater Victoria (DGV) 2022-2026 contract with the City of Victoria to allocate Online Accommodation Platform (OAP) Municipal Regional District Tax (MRDT) revenue for affordable housing purposes,” reports DGV.
Since 2018, funds collected from OAP MRDT have been placed in the City of Victoria Housing Reserve Fund, specifically earmarked for the creation of affordable workforce housing for hotel and hospitality workers. The OAP MRDT related to affordable housing is part of the BC Provincial Sales Tax Legislation and operates under a provincial regulatory framework co-managed by Destination BC and The Ministry of Finance.
“The pressing need for affordable housing has been a long-standing concern in Greater Victoria, particularly for the hardworking individuals who power the local hotel and hospitality industry,” reads a DGV statement. “The lack of affordable housing options not only poses significant challenges for workers but also impacts the overall operations of many businesses within the sector.”
