Direct answer: For short-term rental investors, profitability is not decided by the town label — it is decided by legal STR status, purchase basis, fees, occupancy, and nightly rate. Canmore often has more analyzable STR inventory on this site; Banff can show premium demand but with different regulatory and housing constraints. Underwrite each asset; do not assume “Banff always wins on rate” or “Canmore always cash flows.”
Data consistency on CanmoreROI.com: many stress-tests use roughly 55%–75% blended annual occupancy and public nightly rates near $250–$450 before platform fees and discounting; monthly net cash flow still varies with leverage and HOA.
Which is more profitable?
Compare net monthly cash flow after financing and operating load, not listing ADR screenshots. Self-Sustaining means the property generates positive monthly cash flow. Break-even means the property roughly covers costs. Negative Carry means the property loses money monthly. A Banff unit with stricter caps can still lose monthly if basis and fees are high; a Canmore unit with strong gross can still be Negative Carry with the wrong loan and HOA.
Use property analyses and the calculator for Canmore-modeled examples, then rebuild assumptions for any Banff-specific rules and comps.
Cost differences
Both markets carry resort insurance, turnover, and financing sensitivity. Banff’s park context can affect permitted uses, business licensing, and replacement costs. Canmore’s larger condo stock can mean more fee dispersion building-to-building. Read strata docs and depreciation reports for the specific corporation — not town averages from forums.
STR rules differences
STR legality stacks municipal or park rules + strata + insurance. A property permitted on Airbnb’s map is not the same as a legal non-conforming use cleared with the corporation. Banff National Park and Town of Banff requirements differ from Town of Canmore bylaws. If STR revenue must be zero in a stress case, most pro formas collapse — model that before you offer.
See Canmore STR regulations (knowledge node) for how this site treats rules as a revenue binary.
Verdict
There is no universal winner. Underwrite legal STR status, basis vs gross, and fee trajectory on the specific deal. For Canmore-only depth, start at the knowledge hub and master ROI FAQ, then loop through guides → knowledge → analyses → calculator.