Vancouver Hospitality Market Report

Hotel demand to remain robust. Strong hotel fundamentals are likely to sustain over the coming years. Taylor Swift is coming to Vancouver in December, for the final stop on her 18-month Eras Tour and one of only two stops in Canada, and the three-night run is forecast to push occupancy up 700 basis points year over year. Vancouver will also be one of two Canadian cities for the 2026 World Cup, attracting both domestic and foreign soccer fans. In addition, the metro remains a popular destination for domestic visitors, and international travel is returning to pre-pandemic levels. While passenger traffic at Vancouver’s airport was down 5.0 per cent in 2023 when compared to 2019, it was up 31 per cent compared to 2022, largely fueled by a 50 per cent uptick in international travel. This recovery in foreign visitors is likely to continue to materialize once China approves Canada as a destination for outbound group travel, which has been delayed amid a strained relationship due to foreign interference claims.