Hotel Occupancy On The Rise
Analysts report an uptick in Vancouver hotel incomes and occupancy. According to HVS managing director Carrie Russell, a healthy growth in convention delegates, an increase in US visitations as a result of the lower Canadian dollar, and increased travel from China are all factors. (Plus sometimes you just want a quiet room to watch Orphan Black without being disturbed.) Occupancy is expected to increase to 74% by 2015, up from 71% in 2013. The new Trump Hotel (image)—scheduled to open in mid-year 2016—will not have a major impact on overall occupancy levels, Carrie says, given its small size in relation to the overall market. “It will likely be positioned as one of the highest average room rates in the city,” she says. In 2013 the market average rate was $169.
