Canada’s construction pipeline hits record-high project count

International news
The latest Hotel Construction Pipeline Trend Report for Canada from Lodging Econometrics (LE) reveals, at Q1 2024, there are 314 projects/39,628 rooms in the total pipeline. This new record-high in project counts represents an 11% increase in project counts and a 5% increase in room numbers year-over-year (YOY).

In Canada, there was a surge of projects that moved into the under construction stage in 2023. Currently, there are 70 projects/9,151 rooms under construction in Canada, up 49% and 58% YOY, respectively. Additionally, at the close of the first quarter, there are 80 projects/9,593 rooms scheduled to start construction in the next 12 months while projects and rooms in the early planning stage reached all-time highs of 164 projects/20,884 rooms, increasing 13% and 1% YOY, respectively.

At the Q1 close, hotel construction projects in the province of Ontario account for 59% of the projects and 60% of the rooms in the total pipeline, for new all-time highs of 186 projects and 23,839 rooms. Following Ontario, the largest number of projects and rooms in the pipeline at Q1 is the province of British Columbia with a record 57 projects/8,290 rooms, then Quebec, with 20 projects/2,403 rooms. These three provinces account for 84% of the projects and 87% of the rooms in the total pipeline in Canada at Q1.