For a comprehensive review of the Canada market, click below:
HVS In-Depth Canada Hotel Valuation Index:
2019
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2018
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2017
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2016
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2015
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2014
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2013
The MONTREAL AIRPORT market has benefitted from the strong growth in passenger traffic at the Pierre Elliott Trudeau International Airport. The airport welcomed more than 20 million passengers in 2019, supported by newly introduced flights to international destinations. To support the future growth in passenger volume, major projects are being undertaken at the airport, including the construction of the REM light-rail station and rebuilding of the multi-level parking garage.
The COVID-19 pandemic and the related restrictions on travel, business activity, and individual movement put in place as a measure of containing the spread of the virus have reduced the number of daily flights at the Montreal Airport from 600 to just under 50.
The drastic drop in passenger volume and the continuation of government-imposed travel restrictions are having a dramatic impact on the Montreal Airport lodging market. While the market realized strong RevPAR growth in 2019, which has continued the market’s aggressive growth streak for the third consecutive year, with the onset of the pandemic, negative growth is now projected. The pace of the RevPAR decline has accelerated as Montreal became the epicentre of COVID-19 outbreak in Canada. The drop-off in demand has affected the entire lodging industry; however, hotels relying on group demand and/or air travel, like the subject market does, have been hit the hardest. In this light, a significant decline in hotel values is anticipated for 2020, with a moderate growth resuming in 2021, as travel restrictions are anticipated to be lifted.
The widespread impact of the coronavirus (COVID-19) has had an unprecedented impact on hotels and hotel values worldwide.
Consequently, the latest HVI analysis may no longer reflect the most current measure of lodging industry strength or the
hospitality investment market.
In each of our offices across the globe, we are working tirelessly to analyze the impact of recent events and provide timely
insights to help you navigate these uncharted waters. Because it is unclear how long the pandemic will last or how long related
restrictions will be in place, we are updating our analyses on a weekly basis using the most current data.
Additionally, examination of value trends in prior cycles can provide useful information. Historical patterns, together with
an understanding of the market’s current expectations for the eventual recovery of the industry and its performance, can provide
insights on the likely trajectory of decline and recovery for hotel values.
For the Latest Information and Analysis on the Impact of COVID-19Click Here
If you’d like to speak to someone personally to review details of our most current analysis, please don’t hesitate to contact
us directly.
ADR, Demand, Occupancy, RevPAR, and Supply Projections:
|
| ADR Change
|
| Market Demand Change
|
| Hotel Occupancy Increase/Decrease
|
| RevPAR Change
|
| Market Supply Growth
|
Change In Value For Market:
($CAD)
Legend
| Significant Value Increase:
|
Greater than +10%
|
| Moderate Value Increase:
|
Between +3% and +10%
|
| Stable Values:
|
Between -3% and +3%
|
| Moderate Value Decline:
|
Between -3% and -10%
|
| Significant Value Decline:
|
More than -10%
|
Montreal Airport RevPAR Change
($CAD)
Montreal Airport RevPAR
($CAD)
| Year |
RevPAR |
| 2006 |
$75.40
|
| 2007 |
$76.87
|
| 2008 |
$72.57
|
| 2009 |
$58.14
|
| 2010 |
$62.38
|
| 2011 |
$69.85
|
| 2012 |
$73.22
|
| 2013 |
$74.92
|
| 2014 |
$78.34
|
| 2015 |
$83.10
|
| 2016 |
$91.00
|
| 2017 |
$107.62
|
| 2018 |
$113.07
|
| 2019 |
$120.49
|
| 2020 |
$122.54
|
| 2021 |
$127.34
|
| 2022 |
$133.82
|
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