Not really an ideal thread to post this, but didn't think it was worthy of creating a new one and this one was the best match i could find.
An interesting article in the globe discussing the ratio of hotel rooms/1000sqft of office space. Here are some of the rations they mention in the article.
Quote:
Take Toronto. On average, the city has generated 56 hotel room nights for every 1,000 square feet of occupied office space, Cushman found in a new report. But what’s interesting is how little deviation there is from that average. Between 2001 and 2012 the number never dipped below 50 or above 58.
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LA 1092 rooms per 1000sqft of office space
Vancouver 144 rooms per 1000sqft of office space
Montreal 84 rooms per 1000sqft of office space
Boston 77 rooms per 1000sqft of office space.
Ottawa 77 rooms per 1000sqft of office space
Calgary 60 rooms per 1000sqft of office space
Toronto 56 rooms per 1000sqft of office space
Quote:
Interestingly, Vancouver, with many of the same characteristics as Los Angeles, but much smaller in size, received only 144 occupied hotel rooms per 1,000 square foot of occupied office space compared with Los Angeles at over seven times the volume,” the report notes.
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Doesn't really touch on occupancy rates which are a huge factor in if we are under or over served so it's hard to tell if there will be demand for additional hotel rooms once all the current wave of office space is completed. Mind you we also have a bit of hotel rooms proposed/opening soon. Would be nice to see where out ratio is in 5yrs compared to today.