WASHINGTON – 23 April 2024 – After four consecutive months of year-over-year declines, Canada’s hotel industry reported a marginal lift in transient occupancy, according to CoStar’s March 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.

March 2024 (percentage change from 2023):

Occupancy: 61.0% (-2.1%)

Average daily rate (ADR): CAD185.23 (+3.9%)

Revenue per available room (RevPAR): CAD112.99 (+1.7%)

Transient, according to CoStar, includes rooms sold to individuals or groups occupying less than 10 rooms per night.

“The slight increase in transient occupancy indicates that individuals were still choosing to travel during March break and holidays throughout the month,” said Laura Baxter, CoStar Group’s director of hospitality analytics for Canada.

“Group demand, on the other hand, was down year over year, in part due to a calendar shift, with corporate events tending to steer clear of Easter, in addition to March break. The segment continues to recover from the drop-off during the pandemic with certain months showing stagnating improvement.

“Overall, Canada’s hotel occupancy continued on a downward path in March, with some markets posting double-digit declines. Overall, room rates remain on a positive trajectory.”

Among the provinces and territories, Manitoba recorded the highest March 2024 occupancy level (77.1%), which was 0.9% above 2023.

Among the major markets, Toronto saw the highest occupancy (73.4%), up 2.2% over March 2023.

The lowest occupancy among provinces was reported in Prince Edward Island (32.6%), down 36.3% against 2023. The decline was due to comparison to the province’s Canada Winter Games host period last year.

At the market level, the lowest occupancy was reported in Ottawa-Gatineau (-10.4% to 57.1%).

“Although economic conditions are changing rapidly, it currently appears that Canada will cut interest rates before the U.S.,” said Baxter. “This will likely devalue the Canadian dollar against the U.S. dollar, making Canada an even more affordable destination for Americans. This bodes well for inbound American travel this summer – a segment that continues to make progress toward typical levels achieved before the pandemic.” 

For more information about the company and its products and services, please visit www.costargroup.com.

TORONTO, ON (April 22, 2024) – DaysInns - Canada announced the recipients of the coveted Awards of Recognition for 2023, which acknowledges the exceptional accomplishments of top-performing Days Inn hotels and hotel teams across Canada. This formal recognition honours the outstanding performance and unwavering dedication displayed by the recipients.

"Leading a successful business is no easy task, making it all the more rewarding to celebrate our owners, general managers, and their hardworking teams for their ongoing dedication to representing the very best of the Days Inn brand,” said Irwin Prince, President & COO of Days Inns - Canada. "Together, these recipients have shown an impressive commitment to exceeding guests' expectations and maintaining hospitality excellence.”

2023 Awards of Recognition Recipients:              

Days Inn by Wyndhamhotels in Canada offer free Wi-Fi, either an on-site restaurant or a free breakfast, a pool at many locations and kids stay free. Plus, earn valuable Wyndham Rewards points while you travel, then redeem for stays at thousands of Wyndham hotels, vacation club resorts & vacation rentals worldwide. Members can also redeem Wyndham Rewards points for flights, car rentals, gift cards, online merchandise and so much more. Reservations can be made by visiting daysinn.ca  or by calling 1 800 DAYS INN (1-800-329-7466).

NEW YORK, April 22, 2024 – The 46th annual NYU International Hospitality Industry Investment Conference (NYU IHIIC), operated by Questex, a leading information services and event company, in partnership with the NYU School of Professional Studies (NYU SPS) and its Jonathan M. Tisch Center of Hospitality, will deliver unparalleled thought leadership through keynotes, general sessions, workshops and networking events. Top industry executives from CEOs of hotel brands to various investment and real estate executives will discuss the latest trends, economic influences, and projections. The NYU IHIIC will be held on June 2-4, 2024 at the Marriott Marquis in New York.

NYU IHIIC brings active U.S. and global investors from private equity to institutional capital and family office together with CEOs from major hotel companies, leading financiers, advisors, asset managers and operators representing more than $57 billion in assets under management. The event theme "Driving Alpha" will celebrate strategies and case studies that have resulted in outperformance, and provide attendees with the insights, intelligence and inspiration to enhance market share and drive beyond market growth and returns. 

“The U.S. market is favored as the strongest for economic growth in the world, despite challenging market conditions. We are already seeing an increase in deals taking place and this will feed stronger deal flow. This comes after a long period of limited deals, so the timing of our event presents the perfect opportunity for key players to drive increased activity and growth in the market,” said Alexi Khajavi, Group President Hospitality, Wellness and Travel, Questex. “We're proud to present an exceptional program of global CEOs from the most successful hotel brands across the world. These thought leaders bring a wealth of experience, offering diverse perspectives that promise to broaden attendees’ views of the industry and ignite fresh ideas.”

“For decades, the NYU International Hospitality Industry Investment Conference has been the go-to event for industry business leaders, influencers, and professionals from around the globe, as well as our students who will be the next generation of industry innovators and leaders,” said Nicolas Graf, Jonathan M. Tisch Chaired Professor and Associate Dean of the NYU SPS Jonathan M. Tisch Center of Hospitality. “We are looking forward to this year’s event to gain valuable insights and perspectives on where our industry is headed and its evolution as a global economic driver.”

Program Highlights

Highlights of the NYU IHIIC program include two sessions hosted by Sara Eisen, Anchor, Closing Bell, CNBC. 

“The CEOs Check In: Industry Titans on Driving the Hospitality Market” session brings together the leaders of the world's major hospitality companies to share their insights on the shifts inthe hospitality, travel, and real estate markets. Anthony Capuano, President and Chief Executive Officer, Marriott International; Christopher J. Nassetta, President and Chief Executive Officer, Hilton; Sébastien M. Bazin, Chairman and Chief Executive Officer, Accor; Mark S. Hoplamazian, President and Chief Executive Officer; Hyatt Hotels Corporation; and Elie Maalouf, Chief Executive Officer, IHG Hotels & Resorts, will share the macro-trends that will have themost significant impact on the market, the events that will reshape the industry, and thestrategies for surpassing goals.   

The “Leader of Finance Interview: Insights on Changing Markets​” session explores the determining considerations that guide leadership, performance, and adaptabilityin uncertain times at a leading financial institution. David Solomon​, Chairman & Chief Executive Officer, The Goldman Sachs Group, Inc.​ shares insights on thrivingin ever-changing markets, and discovering cross-sector lessons for success.​

In addition, other prominent leaders presenting at NYU IHIIC include:

Craig S. Smith, Chief Executive Officer, Aimbridge Hospitality 

Larry Cuculic, President and CEO, Best Western Hotels and Resorts 

Chad Sorensen, ISHC, CEO, CHM Warnick 

Kendra Plummer, CEO, Elise Capital

Greg Juceam, President and Chief Executive Officer, Extended Stay America

Tyler Morse, Chairman and CEO, MCR Hotels

Mit Shah, Chief Executive Officer, Noble Investment Group

John Murray, President and Chief Executive Officer, Sonesta International Hotels 

Edward Pitonyak, CEO, Vici Properties

A share of proceeds from the event will help fund student scholarships at the NYU School of Professional Studies (NYU SPS) Jonathan M. Tisch Center of Hospitality and further support the program’s mission of educating and preparing future leaders and innovators for careers in global hospitality management, travel, and tourism. 

To register to attend the NYU International Hospitality Industry Investment Conference, click here.

Bethesda, MD, April 22, 2024 - Marriott International, Inc. (Nasdaq: MAR) has verified its near and long-term science-based emissions reduction targets with the Science Based Targets initiative (SBTi). SBTi is a global climate action organization that develops tools that allow businesses to set greenhouse gas (GHG) emissions reduction targets in line with data-driven methodology. Marriott is the largest global hospitality company to receive approval for both near-term and long-term science-based targets.

The company has committed to reduce absolute scope 1 and 2 GHG emissions 46.2% by

2030 from a 2019 base year. Marriott also commits to reduce absolute scope 3 GHG emissions from fuel and energy-related activities, waste generated in operations, employee commuting, and franchises 27.5% by 2030 from a 2019 base year, and that 22% of its suppliers by emissions covering purchased goods and services, capital goods, and upstream transportation and distribution will have science-based targets by 2028.

Marriott commits to reach net-zero greenhouse gas emissions across the value chain by 2050, reducing absolute scope 1 and 2 GHG emissions 90% by 2050 from a 2019 base year and reduce absolute scope 3 GHG emissions 90% by 2050 from a 2019 base year. The target boundary includes land-related emissions and removals from bioenergy feedstocks.

“For nearly a century, Marriott has been committed to our core value of serving our world as we strive to be a force for good wherever we do business,” said Anthony Capuano, President and CEO, Marriott International. “The impact of climate change is being seen and felt across the globe. As we continue to connect people through the power of travel, we are committed to driving meaningful improvements to the environment and are energized by reaching this significant milestone. The approval of our near-term and long-term targets is the result of the hard work and dedication of Marriott’s teams around the world who are committed to our climate action journey and creating the future of sustainable hospitality.”

“Marriott has been on a journey to reduce greenhouse gas emissions in our operations and supply chain. We believe it’s good business and good for the planet,” said Erika Alexander, Chief Global Operations Officer, Marriott International. “The decarbonization of the global electrical grid is a vital component of reducing GHG emissions. We are united with other leading companies in elevating efforts to help address the effects of climate change and hold ourselves accountable as we embed sustainability throughout our operations.”

To reach its net-zero target, Marriott is focusing its efforts in three distinct areas: energy reduction, sourcing more energy from renewables, and purchasing goods with lower carbon footprints across its portfolio of over 8,800 properties in 139 countries and territories.

The company’s recent sustainability highlights include:

Launching the Climate Action Program (CAP), the company’s approach to charting a growth-focused future through building climate fluency, addressing climate risk, and reducing greenhouse gas emissions across the organization.

Delivering property-specific carbon and energy reduction targets to every managed and franchised hotel globally.

Enhancing the Marriott Environment Sustainability Hub (MESH), a global platform for properties to log monthly power, water and waste metrics. With these enhancements, properties can now easily access customized, property-specific information for reducing energy and carbon.

Introducing the Energy Optimization Program to help properties manage rising energy costs. The program assists properties in conducting an energy audit to identify ways to become more energy efficient.

Engaging with suppliers as they work to understand and reduce their emissions.

Sharing sustainability information, including individual hotel carbon footprint data, on Marriott.com.

Marriott’s sustainability strategy is focused on a wide range of tactics including designing resource-efficient hotels, implementing technologies to track and reduce energy and water consumption, as well as waste and food waste, increasing the use of renewable energy, managing water-related risks, focusing on third-party sustainability certifications at the hotel-level, supporting innovative ecosystem restoration initiatives, implementing and responsible and local sourcing. In support of the United Nations Sustainable Development Goals (SDGs), Marriott created its sustainability and social impact platform, Serve 360: Doing Good in Every Direction, which guides the company’s efforts to make a positive and sustainable impact on the world’s most pressing social, environmental, and economic issues wherever it does business. More details about Serve 360 can be found at Marriott.com/Serve360.

Note on forward-looking statements:

This press release contains "forward-looking statements" within the meaning of federal securities laws, including statements related to the company’s plans and expectations related to our ESG and/or sustainability-related goals, targets, and commitments, including our science-based emissions reductions targets; our sustainability-related plans, initiatives, and strategies; and similar statements concerning anticipated future events and expectations that are not historical facts. These statements are typically accompanied by the words “continue,” “plan,” “expect,” “goal,” “target,” “commit,” “commitment,” “will,” “prioritize,” “strive,” or similar expressions. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including the risk factors that we describe in our Securities and Exchange Commission filings, including our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release. Goals, targets, or commitments described in this press release are aspirational and subject to change and are not guarantees or promises that all goals, targets, or commitments will be met. We make these statements as of the date of this press release, and we undertake no obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise.

For more information, please visit our website at www.marriott.com