In September 2024, Canada welcomed 1.8 million overnight visitors, marking a slight decline of 3 per cent compared to September 2023, according to a new report from Destination Canada.
As 2024 progresses, the Canadian hotel industry is navigating a shifting economic landscape characterized by inflation, fluctuating interest rates, and moderated demand growth. Cushman & Wakefield’s latest report,…
Tourism and hospitality are at robust, near-pre-pandemic levels, while capital markets transaction activity remains muted. The following analysis comes to us from Avison Young’s Marie-France Benoit, principal, director…
Canada’s October hotel average daily rate (ADR) exceeded CAD200 for the first time on record, according to data from CoStar.
The Canadian hotel investment market has demonstrated notable resilience and optimism in 2024, despite a slowdown in transaction volume in the third quarter.
The latest Lodging Econometrics (LE) data from Q3 2024 reveals unprecedented growth in Canada's hotel development pipeline, with key indicators suggesting an expansion phase is underway. The total pipeline has reached a…
According to the Q3 2024 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), the total U.S. pipeline stands at 6,211 projects/722,821 rooms—up 9 per cent by projects and 7 per cent by rooms…
Europe is the only world region with lower hotel pipeline activity year over year, according to September 2024 data from CoStar.
The 2024 Economic Impact Trends Report from the World Travel & Tourism Council (WTTC) projects global business travel spending will reach $1.5 trillion this year, surpassing pre-pandemic levels by 6.2 per cent.
On September 4, 2024, the Bank of Canada (BOC) announced its third consecutive interest rate cut, lowering the benchmark rate by 25 basis points to 4.25 per cent. This comes as inflation continues to ease, reaching 2.5…
