Industry Trends and DataHotel Occupancy Rate is Still High

In July, the Richmond hotel occupancy rate for the month continued to be strong at 94.3%, which is down slightly over July 2016. The year-to-date (January-July) rate was reported at 82.4%, and is still the highest occupancy rate in Canada, as released by CBRE Hotels’ Trends Report.*

US Overnight Customs Entries Up

For the first time this year, BC saw an increase in year-to-date US overnight entries at 0.4%. The month of June had a 4.8% increase compared to June last year. January to June year to date same day US visitors is up 1.9% over last year. See the full report on international visitor arrivals compiled by Destination BC here.

There are several ways Richmond businesses can capitalize on the increased visitation. Click here to learn about programs offered by Tourism Richmond.

*Source:  CBRE Hotels’ Trends in the Hotel Industry National Market Report with reproduction and use of information subject to CBRE Limited Disclaimer / Terms of Use as detailed at http://www.cbre.ca/EN/services/valuationservices/hotels/Pages/hotels-vas-disclaimer.aspx