Canada hotel market report

2024 review and 2025 outlook

Hilton Doubletree (former Hyatt)

Location: Montreal, QC
Client: Ashford Hospitality Trust
Size: 611 rooms
Service Type: Investment sale

Acting exclusively for Ashford Hospitality Trust, our experience includes the sale of this 611-guest room full-service hotel to an offshore private hotel company marking their second hotel acquisition in Canada. It is part of a mixed-use development and subject to a shared facilities agreement. Ensuring a thorough understanding of potential impact from the various assumable agreements reduces overall transaction risk.

Key highlights

Significant stabilization

The Canadian hotel industry experienced a significant stabilization in 2024, as national occupancy levels returned to pre-pandemic norms

$1.3 billion in hotel transactions

In 2024, major Canadian markets – including Vancouver, Calgary, Edmonton, Toronto, Ottawa, and Montreal – recorded nearly $1.3 billion in hotel transactions, marking a 46% increase from the previous year and an 88% surge compared to 2019.

Moderate growth in 2025

The market performance in 2025 is expected to reflect stabilized levels through the year with moderate growth in both ADR and occupancy.

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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.