CBRE Hotels Canada Market Update September 2022

September 16, 2022

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CBRE Hotels has released the 2023 Outlook for the Canadian accommodation market. Following a strong year of recovery in 2022, CBRE projects 2023 will see national topline performance return to 2019 levels. In 2023, RevPAR will grow by 11% to reach $107. This year will bring continued economic growth, with the return of corporate and meeting conference travel, though at modest growth rates compared to 2022. This report details the 5-year national outlook, an updated 2022 forecast, and the 2023 outlook for the provinces and 13 Canadian major markets.