Vancouver’s hotel shortage piques investor interest
Driven by a remarkably strong and sustained rebound in tourism and overnight visitors, Canada’s hotel industry smashed records for average room rates in May, June and again in July, according to CoStar, a global provider of real estate data, analytics and news.
The country’s average daily hotel room rate reached $232 in July – a staggering 29-per-cent increase compared with the prepandemic July, 2019, rate.
Categories
Recent Posts
Canada's tallest skyscraper is now 100 storeys. This is the view from the SkyTower
Vancouver rental builders, facing slowing demand, say government support needed
Calgary townhouse by the river a buyer’s top pick
The houses you can buy for $680,000 across Canada, the Home of the Week and more top real estate stories
Mount Pleasant condo sells for less than price paid 19 months ago
Home of the Week: A ‘normal’ house that holds a few secrets
Jilted buyer returns with slightly modified bid to take Pickering house
Network looks to tap into philanthropy to boost funding for affordable housing
Prince Harry to speak at a Toronto real estate conference next month
Buyer trims price of condo a short stroll to Woodbine Beach
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "