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Canada’s hotel industry reported positive performance year over year, driven by growth in room rates, according to January data from CoStar.
January 2025 (percentage change from 2024):
“Consistent with the recent trend, room rates drove an increase in RevPAR in January,” says Laura Baxter, CoStar Group’s director of hospitality analytics for Canada.
“Group demand showed the most significant lift among segments, benefiting ADR, which grew more than the national average. This trend is expected to continue throughout 2025 as the cadence of conferences, conventions and meetings continues normalizing toward typical demand patterns.”
Among the provinces and territories, British Columbia recorded the highest occupancy level (52.9 per cent), which was 1.3 per cent above 2024.
Among the major markets, Vancouver saw the highest occupancy (60.7 per cent), down 1.1 per cent over January 2024.
The lowest occupancy among provinces was reported in Prince Edward Island (28.5 per cent), down 0.3 per cent against 2024.
At the market level, the lowest occupancy was reported in Calgary (-6.5 per cent to 45.3 per cent).
“CoStar and Tourism Economics’ most recent forecast for 2025 projects RevPAR growth of 2 per cent, with a 1.8 per cent lift in ADR countering mostly flat occupancy,” Baxter says. “Should any proposed tariffs materialize, it could result in a contraction to the economy, and this remains a downside risk to our forecast. In terms of supply, roughly 10,000 rooms are currently in construction across the country, of which 60% are projected to open in 2025. This new supply will make up for limited additions over the past few years when construction delays and hotel conversions to various types of housing put downward pressure on the measure.”
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