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Cushman & Wakefield: Canadian Lodging Overview – Q2 2024 – Image Credit Unsplash+
The report highlights the key dynamics of the Canadian hospitality sector, along with a glance at the hotel cap rates across Canadian markets.
Into the second half of 2024, the moderating pattern of performance has continued as hotel operations return to more typical supply and demand fluctuations. This, combined with economic conditions, inflation, and interest rates have slowed growth in the accommodation market so far this year.
In the first half of 2024, RevPAR performance in Canada increased by 4.0% compared to the same period in 2023. This growth was driven by a 4.3% increase in ADR, offset by a 0.3% decrease in occupancy due to a 0.5% increase in supply for the same period.
