Canada’s economy shifted into high gear in 2017 with GDP expanding by 3.0%; the strongest growth rate since 2011 and registering as the fastest advance among the G7 countries1. Robust growth in employment and consumer spending, notable government infrastructure investment and a sizable rebound in oil prices continue to propel Canada’s economy with 2018 expected to expand by a healthy 2.1%1.
A new record for tourist arrivals in 2017 benefited Canada’s lodging sector with national RevPAR up 7.7% for the year as demand surged ahead by 3.2%, far outstripping supply growth of 0.8%2. Canadian hotel transaction volume of $3.5 billion was also notable with continuing favourable market dynamics and investor outlook driving positive momentum for 2018.
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