STR: Canada Hotel Construction Down 8.7% In April
Canada's pipeline of rooms in construction fell 8.7% year over year, with 8,011 rooms in 63 hotel projects through April.
HENDERSONVILLE, Tennessee — STR's pipeline data for Canada showed 63 hotel projects accounting for 8,011 rooms in construction as of April 2019. This represents an 8.7% year-over-year decrease in the number of rooms in the final phase of the development pipeline.
A majority of Canada's rooms in construction are in two segments. Construction activity in one of those segments is up year over year, while it is down in the other.
- Upper Midscale: 3,081 rooms (+9.3%)
- Upscale: 2,947 rooms (-16.6%)
Three provinces or territories reported more than 1,000 rooms under construction. Ontario led with 2,631 rooms, which represented 1.9% of the country's existing supply, followed by Alberta (2,048 rooms, 2.6% of existing supply).
- Ontario: 2,631 rooms (1.9%)
- Alberta: 2,048 rooms (2.6%)
- Quebec: 1,160 rooms (1.5%)
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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