Canada -  Montreal Airport

The MONTREAL AIRPORT market is driven mainly by airport demand, but local pharmaceutical, aerospace, telecommunication, and information technology companies also generate significant demand for area hotels.

Montreal is the second-largest city in Canada, and Montreal–Pierre Elliot Trudeau International Airport is seeing a record number of passengers this year. Year-to-date through August 2017, more than 12 million passengers landed at the airport, up 9.6% from the comparable period in 2016. The overall health of the Canadian economy and events marking the 150th anniversary of Canadian Confederation, the 50th anniversary of Expo 67, and the 375th anniversary of the city of Montreal have all contributed to the increase in visitation this year. New direct flights to China through Shanghai and Peking have also played a role in the rising passenger count at the airport.

In 2017, Montreal remains attractive for real estate investors and also technology investment. Montreal is also the second-largest hub for artificial intelligence (AI)research in the world. Following Google in establishing AI lab in 2016, both Microsoft and Facebook have chosen Montreal for their AI research labs.

In last year’s HVI report, the per-room value for the Montreal Airport market was projected to increase by 13.2% to $94,090 in 2016. Given the strong performance of the market, the actual per-room value increased to $95,943, slightly above what had been projected. With gains in occupancy and ADR, the RevPAR increased by 9% in 2016, reaching $91.

The Montreal Airport lodging market has experienced a very strong year for visitation in 2017 with the celebration of the city’s 375th anniversary. The RevPAR is projected to improve to $108, up 18% from the level achieved in 2016. The decline in supply with the closure in December 2016 of the 214-room Best Western Plus Montreal Airport for major renovations has contributed to the improvement in RevPAR.

Overall, the Montreal Airport market is projected to sustain healthy increases in market value from 2017 through 2020. Two new Hilton-branded hotels are in the pipeline and expected to open in 2018 with more than 200 rooms in total. In 2020, the per-room value is projected to reach $119,047 per room. With this strong performance, the Montreal Airport market is projected to move up to fifteenth place for per-room value among all the major markets in Canada in 2020, up from eighteenth place in 2016.

Change In Value For Market: ($CAD)

Legend
Significant Value Increase: Greater than +10%
Moderate Value Increase: Between +3% and +10%
Stable Values: Between -3% and +3%
Moderate Value Decline: Between -3% and -10%
Significant Value Decline: Less than -10%

Montreal Airport RevPAR Change ($CAD)

Montreal Airport RevPAR ($CAD)

Year RevPAR
2006 $75.40
2007 $76.87
2008 $72.57
2009 $58.14
2010 $62.38
2011 $69.86
2012 $73.22
2013 $74.92
2014 $78.29
2015 $83.20
2016 $91.06
2017 $108.07
2018 (f) $113.41
2019 (f) $115.54
2020 (f) $121.39

For more information, please contact:

Monique Rosszell, AACI, MRICS, ISHC
[email protected]
  • +1 416 686-2260 (w)