Toronto topped the major markets with an occupancy rate of 79.6%, marking a 3.5% increase from the previous year.
October 2024 sees record-high average daily rate (ADR) exceeding CAD200 for Canada’s hotels, according to CoStar data.
Amidst an overall increase in occupancy, new inventory growth is expected to cause a slight decline in occupancy in 2025.
Canada’s hotels witnessed a significant landmark in October 2024, as the average daily rate (ADR) surpassed CAD200 for the first time ever, according to data from CoStar, a prominent online real estate marketplace and analytics provider.
October’s occupancy rate was 68.5%, marking a 0.8%…
