/cdn.vox-cdn.com/uploads/chorus_asset/file/16294979/akrales_190522_3440_0029.jpg "Apple pulls remaining Lightning-based devices from European stores")
In November 2024, Canada’s hotel industry saw a significant boost, primarily attributed to Taylor Swift’s Eras Tour and a favorable calendar shift. This information is based on data from CoStar, a leading analytics provider in the property markets. The occupancy rate increased by 1.0% to 62.4%, while the average daily rate (ADR) and revenue per available room (RevPAR) rose by 9.7% and 10.8%, respectively.
The tour had a particularly notable impact in downtown Toronto, which averaged room rates of $779 over the six-night period. This contributed to national transient and weekend rate growth of 11.5% and 12.1%, respectively. Luxury hotels saw the highest increase, with rates rising by 19.3%.
Ontario recorded the highest occupancy level at 67.4%, a 2.6% increase from 2023. Toronto held the highest occupancy rate among major markets, up 3.7% from November 2023’s 76.4%.
On the other hand, the lowest occupancy rates were reported in Prince Edward Island and Calgary, recording 42.8% and 56.6%, respectively, with the former seeing a 9.1% decrease from 2023.
Taylor Swift’s Vancouver shows are also expected to significantly impact the December data, with room rates reaching a record-breaking $1,319, resulting in Downtown Vancouver’s highest-ever RevPAR level.
