2020 Canadian Hotel Lending Survey – COVID-19 Edition
The COVID-19 pandemic has transformed the climate for hotel lending in Canada. At the start of the year, the hotel sector was preparing for a down cycle in 2020 because the market had been riding high for the past 11 years, since the end of the Great Recession in 2009. Nevertheless, cautious optimism was the general sentiment heading into the New Year—the national lodging market remained healthy, and RevPAR levels were at a record high at the beginning of 2020.