This latest acquisition of the landmark Kingston property will be the 10th Marriott property under Easton's ownership and management.
Canadian hotel construction hits all‑time high
PORTSMOUTH, NH—Lodging Econometrics reports that at the close of the second quarter of 2019, the total construction pipeline in Canada hit an all-time high with 273 projects/35,787 rooms.
PORTSMOUTH, NH — Analysts at Lodging Econometrics (LE) report that at the close of the second quarter of 2019, the total construction pipeline in Canada hit an all-time high with 273 projects/35,787 rooms. Construction pipeline projects are up 14 per cent and rooms are up a lofty 20 per cent year-over-year (YOY).
Currently, there are 92 projects/11,118 rooms under construction. Projects scheduled to start construction in the next 12 months stand at 95 projects/11,097 rooms, with projects in the early planning stage at 86 projects/13,572 rooms, both stages hitting record high counts.
In the first half of 2019, Canada opened 28 new hotels/3,213 rooms with an additional 23 new hotels/2,579 rooms scheduled to open before year-end. In 2020, the LE forecast for new hotel openings shows 64 new hotels with 6,758 rooms expected to open. In 2021, Canada is forecast to open 67 new hotels/7,428 rooms. Should all these hotels come to fruition, 2021 will set an all-time high count for new hotel openings.
The top provinces in Canada with the most projects in the pipeline are dominated by Ontario at a record-high 140 projects/17,778 rooms. Next is British Columbia, also at a record high, with 43 projects/5,877 rooms and then Alberta with 36 projects/5,667 rooms. Together the three provinces account for 82 per cent of the rooms in Canada’s pipeline. Distantly following are Quebec and Manitoba with 13 projects/1,882 rooms and 9 projects/1,142 rooms, respectively.
The top five cities are led by Toronto with 49 projects/7,000 rooms, at a record high and claiming 20 per cent of all the rooms in Canada’s total construction pipeline. Following distantly are Vancouver with 13 projects/1,536 rooms, Ottawa with 12 projects/1,868 rooms, Calgary with 12 projects/1,395 rooms, and Niagara Falls with 10 projects/2,445 rooms. These five cities account for 40 per cent of the rooms in the total pipeline.
The top franchise companies in Canada’s construction pipeline are Hilton Worldwide with 55 projects/6,558 rooms, followed closely by Marriott International with 54 projects/6,956 rooms and then InterContinental Hotels Group (IHG) with 45 projects/4,328 rooms. These three franchise companies claim 56 per cent of the projects in the total pipeline.
The top brands in Canada’s pipeline are IHG’s Holiday Inn Express with 31 projects/3,134 rooms. Next is Hampton by Hilton with 27 projects/3,148 rooms and TownePlace Suites by Marriott with 14 projects/1,464 rooms.
Other notable brands in the Canadian pipeline are Hyatt Place with 16 projects/2,398 rooms, Best Western Plus with 12 projects/1,027 rooms and Courtyard by Marriott with 11 projects/1,634 rooms.