Canadian hotel investment surged in 2024, surpassing $2 billion, driven by strong market fundamentals, investor confidence, and heightened competition for quality assets.
Wells Fargo initiated coverage on Hyatt, Hilton, and Marriott, favoring operators targeting group and high-end travel, with strong growth outlooks and reasonable valuations. They predict a 3%-4% RevPAR growth in 2024.
Accor added Hotel Andra Seattle to its portfolio and plans for new MGallery properties.
International tourism is nearing pre-pandemic levels, with a 38% increase in travelers in 2023 compared to 2022. The Middle East leads the recovery, while Europe, Africa, and the Americas show significant improvement.
