Each year, HVS researches and compiles development costs from our database of actual hotel construction budgets. This source now provides the basis for our illustrated total development costs per room/per product type.
The Canadian Lodging Industry experienced 7.0% RevPAR growth through June 2017. Wow! ADR is the main contributor particularly in the Luxury segment caused by the low dollar with Ontario and British Columbia leading the pack.
In the first quarter of 2017, the Canadian lodging market continues to fire on all cylinders with RevPAR growth outpacing 2016 growth. Alberta and Newfoundland are charting positive growth for the first time in three years!