B.C. hotel rates a ‘critical challenge’ ahead of FIFA event
Global News
New data from CoStar shows that hotel room prices in Vancouver reached record highs this past summer, with the city's average daily rate climbing to nearly $330 in July.
As Vancouver gets ready to host games in the FIFA World Cup next year, Airbnb is making a case for the province to lift short-term rental restrictions at that time.
“Hotel prices have spiked in Vancouver,” Alex Howell, Airbnb Canada policy lead, told Global News.
“It’s only going to get worse when you have a big event like FIFA in Vancouver next year.”
New data from CoStar shows that hotel room prices in Vancouver reached record highs this past summer, with the city’s average daily rate climbing to nearly $330 in July.
That is a 189-per-cent surge over five years.
Provincially, rates hit a record high of $230 a night, according to CoStar, which is nearly doubling the national average.
“This is all pointing to some pretty critical challenges ahead when FIFA comes to town next year,” Howell said.
According to Airbnb, the implementation of new short-term rental restrictions across B.C. are to blame.
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