Vancouver Leads Canada's Hotel Boom
Photo Credit: An aerial view of Vancouver's skyline. Unsplash / Mike Benna
Skift Take
Canada is seeing a surge of hotel construction in major cities, with Vancouver leading the way in new building applications. It is now seen as the most attractive bet by analysts because it leads the way in hotel profits and occupancy, which was almost 80% in October.
The DJIA was up 135 points on Friday while Nasdaq was up 267, the S&P 500rose 52 points and the 10 year treasury yield jumped .17 to 4.03%. Lodging stocks were mixed. MAR and HLT traded up to new highs again.
Duetto announced the results of its third annual Trends & Predictions survey. The Duetto Outlook & Trends 2024 Survey has shown that 51% of respondents’ primary objective when managing groups business in 2024 is increasing revenue by optimizing their pricing strategies across group and transient business. Nearly 40% intend to look for pipeline insights and complete a comprehensive analysis of their business mix, to deliver more accurate forecasts and rate recommendations. Managing cost per booking, per channel, will continue to be an area of focus for revenue leaders in 2024 with 60.7% saying this is more important now than before. 60.7% of respondents spent more in 2023 compared to 2022, and 7
