Canada Hotel & Chains Report 2024

This report, drawing on data from CoStar and Horwath HTL’s internal database, profiles a sample of over 7,100 Canadian hotels and nearly 450,000 guest rooms – examining performance trends, market structure, brand distribution, and the hotel development pipeline.

KPI’s

Market structure

• 71% of hotels are independent, but branded properties hold 55% of rooms
• Upper midscale is the dominant branded segment (33% of hotels, 28% of rooms)
• 60% of all hotels have fewer than 50 rooms — limiting franchise opportunity
• Ontario, BC, Alberta and Québec hold 83%+ of all guest rooms

Top brands & chains

• Marriott International leads by rooms (56,200); Wyndham leads by hotel count (482)
• Holiday Inn Express tops the brand list with 116 hotels and 12,302 rooms
• Comfort Inn has the most hotel locations of any single brand (141)
• Fairmont leads the luxury segment with 19 properties and 9,631 rooms

City performance

• Winnipeg recorded the largest occupancy gain since 2019 (+7.8 pts, to 76.1%)
• Banff achieved the highest ADR in Canada at $369 — up $87 from 2019
• Vancouver and Toronto remain among the highest-performing markets overall
• Western cities including Calgary, Kelowna and Saskatoon outpaced 2019 occupancy

Development pipeline

• 358 hotel projects expected to open within four years — up 10% year-on-year
• Toronto leads all destinations with 32 projects and 5,601 rooms planned
• Hampton by Hilton leads branded pipeline (22 projects, 2,592 rooms)
• Independent hotels represent 22% of pipeline rooms (9,700 rooms)
  

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