Stack,

I can tell that you are not in this field by your comments. I have been intensively involved in student recruitment in Vancouver for 25 years. I know my business. It doesn't have much to do with the local residents' situation, so you can't rely on mainstream stats at all. It's also not lucrative, however you look at it.

Anyway, that's not the main issue.  Everyone seems to be too much focussed on abstract subjects, like financials and stats. People like me know what is actually going on, without waiting for technical support. No one has yet discussed the real elephant in this room and it goes far beyond accommodation services.