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.
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