Canadian Hotel Development Reaches Historic Heights

LODGING ECONOMETRICS | October 30, 2024

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 historic peak of 327 projects (40,799 rooms), with year-over-year growth rates of 19% in projects and 8% in rooms indicating strong developer confidence. Current under construction activity shows remarkable acceleration, with 81 active projects (10,596 rooms) representing a 45% surge in projects and a 29% increase in rooms year-over-year. The early planning phase has experienced the most dramatic growth, with 177 project...