Horwath HTL releases its ‘Canada Hotel & Chains’ report 2023
Year-end 2022 results saw the industry register a RevPAR of $109, or a result comparable to the results of 2018 and 2019.
Horwath HTL Canada has released its Canada Hotel & Chains report for 2023. As we approach mid-year, and this on the heels of the many challenges the tourism sector faced as a result of the pandemic, the outlook for the Canadian hospitality industry certainly appears brighter, according to Horwatch’s analysts. Year-end 2022 results saw the industry register a RevPAR of $109, or a result comparable to the results of 2018 and 2019.
Looking forward to the ever-evolving needs of hotel consumers, analysts considered where the Canadian hotel industry is at with regards to independent and branded hotels coming out of the pandemic and heading into the future.
Drawing on its internal database, STR and other resources, Horwath HTL Canada presents the following overview compiling a sample of just over 7,100 Canadian hotels and close to 450,000 guest rooms. To present the data in a clear and structured manner, analysts classified it according to the chain scales as defined by STR.
As reported in the recently released Construction Pipeline Trend Report for Canada by Lodging Econometrics (LE), at the close of Q1 2023, the country’s hotel construction pipeline currently stands at 283 projects/37,683…