RCMP female members during the Calgary Stampede parade, July 8, 2022.
Following a record-setting number of hotel bookings during the 2023 Stampede, experts say those spending numbers are expected to level off this year — but that doesn’t mean the hospitality industry is struggling.RCMP members march in front of the Fairmont Palliser Hotel during the Calgary Stampede parade in this file photo. Hotel spending is expected to level-off during this year's 10-day event.
In 2023, hotel spending in Calgary on the first and last Saturdays of Stampede increased by 19 and 12 per cent respectively, according to Moneris's data."I think you're going to see at least flat numbers year over year," he said. "I think that would be a big win for events like the Stampede, given the economic times that we're in."
Hosts saw a surge in revenue during the 2023 Stampede, earning a combined $9 million, while the average host made around $1,300 during the 10-day event. McNama said the average daily rate for an Airbnb is around $200, and while those prices can fluctuate, more people are finding short-term rentals offer a cheaper alternative to hotels.the average daily room rate being $163 a night. Prices typically surge during Stampede, with some downtown rooms exceeding $500 a night.
"We do know that the short-term rentals pick up some of the demand when downtown is full, and downtown is full this first weekend and definitely midweek," Zia said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Large parade crowd helps kick off first day of the Calgary StampedeKids and parents enjoy the Calgary Stampede parade in Calgary, Friday, July 5, 2024.
Read more »
Calgary Stampede Parade Special Broadcast on Global CalgaryTune in to Global Calgary on July 5 to kick off The Greatest Outdoor Show On Earth! Don't miss the 2024 Calgary Stampede Parade live on Global Calgary!
Read more »
Alberta actor Owen Crow Shoe named 2024 Calgary Stampede parade marshalIn a news release Friday morning, the Calgary Stampede described Owen Crow Shoe is an ambassador for Alberta, Canada and the Calgary Stampede
Read more »
Actor Owen Crow Shoe announced as Calgary Stampede parade marshalThe Calgary Stampede has announced actor Owen Crow Shoe will be the 2024 parade marshal.
Read more »
Fleurs de Villes' whimsical floral creations depict country music iconsVisitors to the Calgary Stampede are seeing country music legends like never before.
Read more »
Calgarians saddle up for Stampede festivities as city recovers from water crisisCrowds attend Family Day at the Calgary Stampede on July 9, 2023.
Read more »