Canada -  Halifax-Dartmouth

For a comprehensive review of the Canada market, click below:
HVS In-Depth Canada Hotel Valuation Index:   2019 | 2018 | 2016 | 2015 | 2014 | 2013

HALIFAX-DARTMOUTH plays a major role in the economy of Atlantic Canada. The manufacturing sector is expected to see healthy growth in 2019, mainly because the Halifax Shipyard has the contract to build Arctic ships for the Canadian Navy. Since 2015, manufacturing output has increased because of this project. Work at the Halifax Shipyard, and the completion of the first ship, has supported a strong 6.0% increase in manufacturing output in 2018. Businesses continue to flourish, supported by strong demand for seafood products from countries in Europe and Asia and the introduction of new flight routes at Halifax International Airport. However, the closure of the Deep Panuke and Sable Island offshore gas fields has brought growth in the primary and utilities industry in Halifax to a halt. With the increase in output across most sectors, the city is nevertheless is expected to realize GDP growth of 2.6% in 2019.

The closure of four hotels in the period from 2015 to 2017 had a positive impact on the local lodging market’s occupancy. In 2017, the RevPAR increased by 14.7%, in comparison to 2018’s 1.5% growth in RevPAR. The value per room jumped 21.5% in 2017 and increased a further 5.8% in 2018.

The economic outlook for Halifax is healthy. Since 2016, the ADR has been rising at a steady pace, and it is expected to continue on this upward trend, besides experiencing a minimal decline of 1.0% in 2019. This will support an increase in RevPAR, which is projected to exceed the $100 mark in 2019 for the third consecutive year. Three new hotels have opened in Dartmouth in 2019, adding 321 new rooms to the market. In 2020 and 2021 an additional 600 rooms is poised to come into the market

The value per room in 2018 was $157,800, which is slightly below the amount of $161,870 that was projected in HVI 2018. The city had the eighth highest per room value in the country in 2018, a significant advance from fourteenth position in 2015. However, in 2019, it is expected to rank tenth and twelfth in 2022 as the market absorbs the new supply.

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%

Halifax-Dartmouth RevPAR Change ($CAD)

Halifax-Dartmouth RevPAR ($CAD)

Year RevPAR
2006 $83.67
2007 $87.80
2008 $86.67
2009 $78.83
2010 $79.64
2011 $80.22
2012 $81.82
2013 $80.27
2014 $81.30
2015 $84.51
2016 $93.45
2017 $107.24
2018 $108.83
2019 $107.74
2020 (f) $108.57
2021 (f) $109.69
2022 (f) $111.88

For more information, please contact:

Monique Rosszell, AACI, MRICS, ISHC
[email protected]
  • +1 416 686-2260 (w)
  • +1 514 776-7099 (m)
  • +1 416 704-3883 (m)