Canada Hospitality Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 39.20 Billion |
| Market Size (2029) | USD 50.68 Billion |
| CAGR (2024 - 2029) | 5.27 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Canada Hospitality Market Analysis
The Hospitality Industry In Canada Market size is estimated at USD 39.20 billion in 2024, and is expected to reach USD 50.68 billion by 2029, growing at a CAGR of 5.27% during the forecast period (2024-2029).
The demand for adventure and outdoor activities is on the rise, particularly in Canada’s top outdoor destinations, such as Banff, Whistler, Toronto, and Vancouver. The city centers are also seeing an increase in international visitors. Adventure tourism in Canada is growing due to several factors. For example, the Canadian government has invested heavily in the tourism sector, making Canada a top destination for adventure tourism. This investment has resulted in better infrastructure and facilities for tourists to enjoy their trips. More people are using social media and sharing their travel experiences. As more people share their experiences and showcase the beauty of Canada, more people are inspired to travel to the country and experience it themselves.
As Canadians become more confident in their travel choices, they also look to make up for missed gatherings and vacations. Domestic travel is booming, and it is expected to stay strong into the coming future.
Canada Hospitality Market Trends
The Increase in Tourist Arrivals and Hotel Occupancy also Results in an Increase in Spending
Canada's tourism industry significantly contributes to the country's overall economic growth. The sector, which encompasses hospitality services and travel to Canada and beyond, employs hundreds of thousands and is supported by governments nationwide.
The tourism industry in Canada is one of the most significant contributors to Canada's economic development. This sector includes hospitality and travel to and from Canada and is one of Canada's largest economic sectors. Spending on tourism in the first quarter of the current year was 106% higher than spending in the first three months of the pre-pandemic era when adjusted for inflation, compared to the same period last year.
The Number of Hotel Construction Projects is on the Rise
The robust recovery in the hospitality sector has piqued the interest of investors anticipating continued income growth in the near- to mid-term. The escalation in land and construction costs has also entered the calculus for investors who see existing assets as relative bargains compared to building new hotels. New hotel construction projects were announced across Canada this year, which will bring in more new rooms and lower rates.
The Canadian tourism and hospitality industry experienced a surge in domestic and international tourism, which further accelerated the rising number of hotel construction projects. While larger groups have been slow to come back, smaller group meetings and leisure activities are on the rise in cities and tourist hot spots. As bookings and occupancy numbers in these markets have risen, so has developer and investor interest.
The province of Ontario remains at the top of the pipeline with an all-time high, followed by British Columbia, Quebec, and Alberta. Together, these provinces account for 59% and 60% of Canada's total pipeline.
Canada Hospitality Industry Overview
The hospitality industry in Canada is fragmented. The hospitality sector in Canada is made up of independent hotels as well as branded hotels. The international brands account for the majority of the market. The largest hotel operator in Canada is Wyndham Worldwide, which has the largest portfolio of chain brands in the country. Choice Hotels Canada has a diversified portfolio of brands, while Best Western International offers a variety of brands. Coast Hotels has the largest market share in the brand segment in Canada. Some of the major players dominating the market are Wyndham Hotel Group LLC, Choice Hotels International Inc., Best Western International Inc., Coast Hotels Limited, and Marriott International Inc.
Canada Hospitality Market Leaders
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Wyndham Hotel Group LLC
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Choice Hotels International Inc
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Best Western International Inc
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Coast Hotels Limited
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Marriott International Inc
*Disclaimer: Major Players sorted in no particular order
Canada Hospitality Market News
- January 2024 - APA Hotel Canada Inc., a wholly owned subsidiary of Coast Hotels Limited, is one of the fastest-growing hotel brands in North America and one of the largest hotel brands in Canada. Coast Hotels announced the opening of two brand new franchise properties, Eldorado (a Coast Hotel) and Midnight Sun (a Coast Hotel), in the historic and vibrant downtown area of Dawson City, Yukon, Canada.
- July 2023 - Wyndham Hotels & Resorts, the global leader in hotel franchising with over 9,100 hotels in more than 95 countries, announced the addition of 60 new hotels to its fast-growing extended stay brand Echo Suitssm, including what is set to be the brand's first Canadian hotels.
Canada Hospitality Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Awareness among Hotels & Resorts to Implement Eco-Friendly Measures
4.2.2 Rising Mobile Reservations & Contactless Check-In/Out
4.3 Market Restraints
4.3.1 Lack of Skilled Labour
4.3.2 Reputation Management is One of the Most Important Tasks in the Hospitality industry
4.4 Market Opportunities
4.4.1 Health and Wellness Tourism will Become Increasing Popular in the Hospitality Industry
4.4.2 Increase in the Number of Airport Construction Projects
4.5 Value Chain Analysis
4.6 Porter's Five Forces Analysis
4.7 Porter's Five Force Analysis
4.7.1 Threat of New Entrants
4.7.2 Bargaining Power of Buyers/Consumers
4.7.3 Bargaining Power of Suppliers
4.7.4 Threat of Substitute Products
4.7.5 Intensity of Competitive Rivalry
5. Investments (Real Estate, FDI, and Others) in the Hospitality Industry
6. Technological Innovations in the Hospitality Industry
7. Insights into the Impact of Shared Living Spaces on the Hospitality Industry
8. Impact of Covid-19 on the Market
9. MARKET SEGMENTATION
9.1 By Type
9.1.1 Chain Hotels
9.1.2 Independent Hotels
9.2 By Segment
9.2.1 Service Apartments
9.2.2 Budget and Economy Hotels
9.2.3 Mid and Upper Mid-scale Hotels
9.2.4 Luxury Hotels
10. COMPETITIVE INTELLIGENCE
10.1 Market Concentration Overview
10.2 Company Profiles
10.2.1 Wyndham Hotel Group LLC
10.2.2 Choice Hotels International Inc.
10.2.3 Best Western International Inc.
10.2.4 Coast Hotels Limited
10.2.5 Mariott International Inc.
10.2.6 Hilton Worldwide Holdings Inc.
10.2.7 Intercontinental Hotels Group
10.2.8 Accor SA
10.2.9 Hyatt Hotels Corporation
10.2.10 The Sandman Group*
- *List Not Exhaustive
11. MARKET OPPORTUNITIES AND FUTURE TRENDS
12. DISCLAIMER AND ABOUT US
Canada Hospitality Industry Segmentation
The hospitality industry comprises services such as lodging, food and drinks service, event planning, theme parks, travel, and tourism. It also covers hotels, tourism agencies, restaurants, and bars. The hospitality industry in Canada is segmented by type and segment. By type, the market is segmented into chain hotels and independent hotels. By segment, the market is segmented into service apartments, budget and economy hotels, mid and upper-mid-scale hotels, and luxury hotels. The report offers a forecast and market size for the Canadian hospitality industry in value (USD billion) for all the above segments.
| By Type | |
| Chain Hotels | |
| Independent Hotels |
| By Segment | |
| Service Apartments | |
| Budget and Economy Hotels | |
| Mid and Upper Mid-scale Hotels | |
| Luxury Hotels |
Canada Hospitality Market Research FAQs
How big is the Hospitality Industry In Canada Market?
The Hospitality Industry In Canada Market size is expected to reach USD 39.20 billion in 2024 and grow at a CAGR of 5.27% to reach USD 50.68 billion by 2029.
What is the current Hospitality Industry In Canada Market size?
In 2024, the Hospitality Industry In Canada Market size is expected to reach USD 39.20 billion.
Who are the key players in Hospitality Industry In Canada Market?
Wyndham Hotel Group LLC, Choice Hotels International Inc, Best Western International Inc, Coast Hotels Limited and Marriott International Inc are the major companies operating in the Hospitality Industry In Canada Market.
What years does this Hospitality Industry In Canada Market cover, and what was the market size in 2023?
In 2023, the Hospitality Industry In Canada Market size was estimated at USD 37.13 billion. The report covers the Hospitality Industry In Canada Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Hospitality Industry In Canada Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Hospitality in Canada Industry Report
Statistics for the 2024 Hospitality in Canada market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hospitality in Canada analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
