Canada Hospitality Market Insights Forecasts to 2033

• The Canada Hospitality Market Size was valued at USD 37.3 Billion in 2023.
• The Market is Growing at a CAGR of 5.18% from 2023 to 2033
• The Canada Hospitality Market Size is expected to reach USD 61.8 Billion by 2033

The Canada Hospitality Market Size is anticipated to exceed USD 61.8 Billion by 2033, Growing at a CAGR of 5.18% from 2023 to 2033. The increasing awareness among hotels & resorts to implement eco-friendly measures and growing mobile reservations & contactless check-in/out are driving the growth of the hospitality market in Canada.      

Market Overview

Hospitality refers to the profession or industry comprising customer services in lodging, restaurants, events, travel, and tourism. It is a massive commercial sector that contributes to travel and tourism. The tourism sector includes hospitality and travel to and from Canada and is one of Canada’s largest economic sectors, significantly contributing to Canada’s economic development. The introduction of smart hospitality comprising IoT technologies, personalized guest experiences, and operational efficiency in the hospitality industry for enhanced guest satisfaction and streamlining hotel operations are driving the market growth. The increasing popularity of health and wellness tourism as well as the rise in the number of airport construction projects are offering market opportunities for hospitality.

Report Coverage

This research report categorizes the market for the Canada hospitality market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada hospitality market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada hospitality market.

Driving Factors

The rising trend of ecotourism and eco-friendly hotels for enhanced guest experiences in an eco-conscious manner is significantly contributing to market growth. The integration of contactless check-in such as smart locks, a self-service kiosk, and online check-in to ensure the safety of both hotel staff and guests is bolstering the market growth. The growth of hotel booking software via web and mobile devices for arranging hotel reservations is contributing to driving the market. Software including artificial intelligence (AI) and machine learning, mobile apps & contactless solutions, blockchain technology, voice & chatbox interfaces, etc. has a huge influence on hotel reservations.

Restraining Factors

The lack of skilled labour in the hospitality management sector is hampering the market. Further, poor reputation management of hotels may lead to a significant loss of customers, negatively affecting market growth.

Market Segmentation

The Canada Hospitality Market share is classified into type and segment.

• The chain hotels segment dominated the market with the largest market share during the forecast period.

The Canada hospitality market is segmented by type into chain hotels and independent hotels. Among these, the chain hotels segment dominated the market with the largest market share during the forecast period. Chain hotels can offer more competitive prices and a sense of dependability as compared to independent hotel that would appeal to a larger target market. Hotels in the chain category concentrate on reaching more places to increase their presence in every location.

• The mid & upper mid-scale hotels segment dominated the Canada hospitality market during the forecast period.       

Based on the segment, the Canada hospitality market is divided into service apartments, budget & economy hotels, mid & upper mid-scale hotels, and luxury hotels. Among these, the mid & upper mid-scale hotels segment dominated the Canada hospitality market during the forecast period. A mid & upper mid-scale hotel is a lodging facility that is not as opulent as high-end hotels but provides more comfort, amenities, and services than budget hotels. Further, the typical features like on-site dining, fitness centers, and personalized guest services provided by this segment drive the market.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada hospitality market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Wyndham Hotel Group LLC
• Choice Hotels International Inc.
• Best Western International Inc.
• Coast Hotels Limited
• Hilton Worldwide Holdings Inc.
• Accor SA
• Mariott International Inc.
• Intercontinental Hotels Group
• Hyatt Hotels Corporation
• The Sandman Group
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In July 2024, Ahura Restaurants Pvt. Ltd., a renowned name in India’s dining industry, announced the international expansion of its flagship brand, Mirch Masala. In a strategic move to globalize its culinary offerings, Ahura is set to open a new Mirch Masala restaurant in Mississauga, Canada. 

• In January 2024, Coast Hotels Limited, a fully owned subsidiary of APA Hotel Canada, Inc. and one of North America’s fastest-growing and one of Canada’s largest hotel brands, announced the addition of two new franchise properties in historic and vibrant downtown Dawson City, Yukon.

• In July 2023, Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels across more than 95 countries, announced 60 new hotels for its rapidly expanding ECHO SuitesSM Extended Stay by Wyndham brand, including what would be the brand’s first hotels in Canada.

Market Segment

This study forecasts revenue at Canada, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Canada Hospitality Market based on the below-mentioned segments:

Canada Hospitality Market, By Type

• Chain Hotels
• Independent Hotels

Canada Hospitality Market, By Segment

• Service Apartments
• Budget & Economy Hotels
• Mid & Upper Mid-scale Hotels
• Luxury Hotels