Over 300 million tourists traveled internationally in the first three months of 2025, a 5% rise from last year and 3% more than in pre-pandemic year 2019.
IHG and Choice were optimistic about the rest of the year, though Choice moderated its outlook. The lodging sector expanded with Kessler Collection and others breaking ground.
In January 2025, Canada’s hotel industry reported year-over-year gains in occupancy, ADR, and RevPAR, with British Columbia and Vancouver leading occupancy while Prince Edward Island and Calgary lagged.
Truist projects 2025 will closely resemble 2024’s hotel performance—with modest RevPAR growth, potential M&A, and continued cost pressures for REITs—while favoring Wyndham and Ryman Hospitality.