Canada’s hotel development pipeline is experiencing unprecedented growth, according to the latest data from Lodging Econometrics (LE) from Q3 2024. The total pipeline has reached an all-time high of 327 projects, equating to 40,799 rooms. These represent year-over-year growth rates of 19% in projects and 8% in rooms, indicative of solid developer confidence.
Notably, the number of projects currently under construction has surged by 45%, with 81 active projects (10,596 rooms). This represents a 29% increase in rooms year-over-year. Meanwhile, the early planning phase…
