Monthly accommodation statistics are gathered to monitor trends in the industry. To participate in the program please contact RTO 9.
CBRE Hotels has released the 2023 Outlook for the Canadian accommodation market. Following a strong year of recovery in 2022, CBRE projects 2023 will see national topline performance return to 2019 levels. In 2023, RevPAR will grow by 11% to reach $107. This year will bring continued economic growth, with the return of corporate and meeting conference travel, though at modest growth rates compared to 2022. This report details the 5-year national outlook, an updated 2022 forecast, and the 2023 outlook for the provinces and 13 Canadian major markets.
The CBRE Hotels’ “Trends in the Hotel Industry National Market Report” is formed using the aggregated results of occupancy statistics, average daily rates and room revenue per available room from participating properties. On a monthly basis, CBRE Hotels obtains and monitors the occupancy, average daily rate and revenue per available room of 1,900 properties representing almost 60% of the Canadian industry’s 395,000 rooms.
There are 45 accommodations that take part in this program in RTO9.