Canada hotel market report

2023 review and 2024 outlook

Key highlights

All around postive growth

Positive year-over-year growth across all performance metrics in 2023 signals a promising trajectory for the Canadian hospitality industry.

$780 million in hotel transactions

Throughout 2023, major Canadian markets (including Vancouver, Calgary, Edmonton, Toronto, Ottawa, and Montreal) posted a total of $780 million in hotel transactions – an increase of 38% from the previous year and 17% higher than pre-pandemic levels in 2019.

Slowing growth in 2024

While growth is anticipated in 2024, it may not be as robust as in the previous year, with the market likely to move towards more normalized conditions.

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Your source for the latest Canada hotel market reports

Get in-depth hotel market reports and insights from commercial real estate experts in Canada. Avison Young advisors look at Canadian commercial real estate activities and the latest Canadian statistics to provide you expert market research on Canada's hotel properties.

Explore different topics like the largest hotel market transactions and analysis of Canada's current hotel market conditions. Gain a better understanding of Canada's hotel real estate outlook and stay ahead of current hotel trends. Make smart decisions when it comes to investing in office properties in Canada's competitive hotel market. Avison Young is your trusted source for commercial real estate hotel market insights in Canada.

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