by Jen Mallia
Last updated: 1:15 PM ET, Mon January 13, 2025
Demand for hotels continues to rise in Canada, welcome news to an industry that is still recovering from the blow dealt by the pandemic. The surge in demand seen during destination events (that is, major events that people travel for) such as the Taylor Swift concerts in Toronto and Vancouver demonstrate the need for hotel rooms.
“We’re seeing a hospitality renaissance,” Adam Jacobs, national head of research at Colliers International Group Inc., told the Financial Post. “Cultural megastars like Swift are catalysts, but the rebound is part of a broader trend of pent-up demand for experiences.”
Leisure travel is just one reason for the growth. Jacobs also points out that corporate travel is also on the rebound. “Companies are reinvesting in in-person events, conferences and retreats,” he said. “That’s creating a ripple effect across hotels, restaurants and local attractions.”
Hotelier Magazine reported on data from Lodging Economics (LE) in Q4 of 2024, indicating hotel inventory is growing in our country. The report states that in 2025, 35 hotels (3,875 rooms), are predicted to open, which will increase Canada’s supply totals by 1.1 per cent. In 2026, 44 hotels are anticipated to open, which will add another 5,079 rooms, a 1.4-per-cent increase in supply.
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