Did you know the Gateway to Growth: Creating Investment Opportunity in the Canadian Hotel Industry (2014) from TIAC has been released?
It profiles an interesting tale about how the drop in international visitation from 33% of all Canadian travel in 2000, to 19% in 2013 has had negative impacts on the hotel industry.
Given Canada’s performance, the report states that investment activity is relatively less compelling in Canada than elsewhere in the world. Several graphs and stats provide the hoteliers out there something to read and think about!
Driving international visitation is everyone’s responsibility – but needs government investment in marketing, which sadly has been decreasing federally. This hurts the economy for tourism is revenue positive to government as an investment and brings economic benefits, employment, visitor dollars, and pride in our country.
An interesting tidbit. Since 2010 over 4300 rooms have been converted for alternate use, the majority in urban areas. A great report and worth a read. Plus – it’s FREE!