Calgary

In January 2025, Canada’s hotel industry reported year-over-year gains in occupancy, ADR, and RevPAR, with British Columbia and Vancouver leading occupancy while Prince Edward Island and Calgary lagged.

Marriott beat 4Q24 expectations, but its stock fell due to cautious guidance, softer NUG outlook, and lower share repurchases.

In November 2024, Canada’s hotel industry experienced a significant boost, driven by Taylor Swift’s Eras Tour and a favorable calendar shift, with notable occupancy and rate increases in Toronto and Vancouver.

Aimbridge Hospitality sued Avion Hospitality and its CEO, Robert Burg, for allegedly using confidential information to interfere with its management contracts, resulting in tens of millions in lost revenue.

Truist expects strong international and group earnings in 3Q lodging reports but weak domestic leisure. CoStar reports higher hotel performance in September 2023, with New York City leading in occupancy. Several hotel transactions and developments are mentioned, including Omni Pontoque Resort and Alt Hotel Calgary University District.

Xenia Hotels & Resorts reported an in-line to a modest miss result and narrowed guidance. They repurchased common stock in the quarter. Chatham Lodging Trust had a 5% increase in RevPAR year over year and a 5% AFFO rise, with RevPAR down less than -2% from 2019. Several hotels announced new openings, acquisitions, and rebranding, including Omni Hotels & Resorts , Sonesta , Braintree Group , Elise Capital , Hyatt Hotels Corporation , and DiamondRock Hospitality Company .

The hospitality industry is experiencing optimism and cautiousness, with hotels considering divesting assets and anticipating a potential distressed sale boom. Hoteliers are optimistic about increasing demand, but face challenges such as high-interest rates, labor shortages, and decreased construction activity. The U.S. hotel forecast shows improvements in occupancy, ADR, and RevPAR, while hotels are offering incentives to combat staffing shortages. International visitor arrivals to the U.S. continue to rise, with Mexico and Canada leading the way.

Marriott International, Sonesta International Hotel Corporation, and Pyramid Global Hospitality , announced plans for expansion and introduced new brands in different locations, including Latin America, Canada, and several U.S. states. Accor highlighted the progress of its branded residences business, with numerous projects under development worldwide, including Dubai, Australia, and South Korea. The Plasencia Group facilitated the sale of The Westin Tampa Bay, and Dan Hansen returned from retirement to lead Hyatt's new mid-market extended-stay brand, Hyatt Studios, with a significant development pipeline.

Hotel industry updates: Canadian hotel RevPAR exceeds C$100 for third consecutive month, with Manitoba and Vancouver leading in occupancy rates. Renovations and expansions: Knoxville, Tennessee plans to add 350 hotel rooms, while a $12 million extended-stay hotel is set to open in Maryland Heights, Missouri. Company announcements: Hyatt Place Melbourne Airport opens in Florida, while LVMH scraps luxury hotel plans in Beverly Hills.

CBRE released its US Hotels State of the Union March 2023 Edition . Key takeaways include February marked nine consecutive months of easing inflation. Baird said that with industry wide March RevPAR being better than expected, it de-risked 1Q23 earnings a bit, and the trade is likely higher into the earnings prints. Jefferies said they continue to believe Host Hotels is best-positioned among peers to generate growth and expanding cash flows irrespective of macro challenges and has yet to receive valuation credit.