PAUL NURSEY
VICTORIA – Next month, BC’s new Short-Term Rental Accommodation Act will come into effect. Despite what you may have heard, restrictions on short-term vacation rentals will not create a tourism crisis.
The legislation is focused on real estate investors and what we in the business call “shadow hotels”, where much of a building or neighbourhood is focused on short-term vacation rentals. This is something we are seeing in downtown Victoria areas such as Lower Johnson, Chinatown and Old Town, as well as suburban areas that have a resort feel.
For the long-term health of the visitor economy, Destination Greater Victoria (DGV) supports this legislation. The shortage of available, affordable homes in Greater Victoria affects people in every industry, including those working in hospitality. As the official tourism board, we support a visitor economy that aligns with community values.
Our research shows more than 90% of Greater Victoria residents support the visitor economy. They understand the benefits, such as tourism employers paying taxes and providing well-paying jobs, and industry partners reinvesting in sustainability initiatives that enhance this special place we call home. Our visitor economy has become a year-round $2.3-billion industry that supports small and medium-sized businesses and we’re proud to have strong support from local residents.
As another peak tourism season approaches, our destination is doing very well, but there is still a long way to go to fully recover from the pandemic. Around the world, not all international markets have rebounded, and our conference business remains at 80% of 2019 levels. Local hotel occupancy rates peaked at 86% last summer, something we worked exceptionally hard to achieve with targeted marketing, but only averaged 68% for the year. While 86% is great, it does not represent a sold-out city. In short, there’s still plenty of room at the inn, and the accommodation sector can manage the volume of visitors coming to the region.
Looking ahead, DGV is busy finalizing a 10-year destination master plan. It aligns well with community values and will help us build a strategy to enhance the visitor economy and keep us competitive. The master plan will also include a forward-looking accommodations strategy. We look forward to releasing the plan this summer, in time to inform upcoming official community plans.
So, while our pandemic recovery remains ongoing, there is no tourism crisis, and we welcome positive, constructive initiatives that will stimulate competitive investments in a deliberate and planned way.
Paul Nursey is the President and CEO of Destination Greater Victoria
