The Canadian hotels market is on the rise as Canada’s place as a tourism and business destination grows.
And in the second quarter of 2019 the pipeline of construction in the Canadian hotels sector hit a new all-time high of 273 projects/35,787 rooms.
Data from Lodgings Econometrics (LE) shows a 14% increase in hotel construction pipeline projects and a 20% year-over-year increase in the number of rooms.
There are 92 projects currently under construction with a total of 11,118 rooms and a further 95 projects and 11,097 rooms are scheduled to begin construction in the next 12 months.
2019 has seen 28 new hotels with a total 3,213 rooms open in the first half of the year with another 23 hotels (2,579) due to open by the end of the year.
The next two years are also looking strong with 64 new hotels with 6,758 rooms expected to open in 2020 and 67 new hotels/7,428 rooms in 2021, which would set an all-time high count for new hotel openings.
Ontario, BC, and Alberta account for 82% of the rooms in the pipeline with Toronto alone accounting for 20%. Toronto, Vancouver, Ottawa, Calgary, and Niagara Falls account for 40% of all rooms in the pipeline.
Among the groups that are opening new hotels in Canada, Hilton Worldwide and Marriott International lead with 55 and 54 projects respectively, followed by Intercontinental (IHG).