CBRE Hotels Canada Market Update September 2022
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.
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.