Canada -  Montreal Airport

The MONTREAL AIRPORT market has benefitted from the growth in passenger traffic at Pierre Elliott Trudeau International Airport. The airport welcomed more than 18.5 million passengers that year, supported by newly introduced flights to such destinations as Tokyo, Bucharest, and Mazatlán. In 2019, there are plans to add air service to more new destinations, including Vienna and Sao Paulo. To support the growth in volume, major projects are being undertaken at the airport, including the partial reconstruction of the B1 and B3 taxiways and the construction of the E taxiway, which are expected to continue in 2019 and 2020. In 2018, 27 new charging stations for electric vehicles were installed in support of the transition to a green economy.

The Montreal Airport market realized strong RevPAR growth in 2017 because of both demand growth and a decrease in inventory with the closure of the 214-room Best Western Montreal Airport. In 2018, the Home2 Suites Montreal Dorval and the DoubleTree Montreal Airport opened, which led to an increase in supply. This had a direct impact on the ADR, which grew by 5.2%, on the heels of growth of 11.8% in 2017.

Strong demand growth is projected for 2019, as. Montreal was host to the World Summit AI this April, which helped to boost demand, leading in turn to an increase in room rates and RevPAR.

The market-wide RevPAR growth in 2019 is projected to continue on an aggressive path for the third consecutive year. Over the next three years, the market is expected to set new records every year.

The per-room value for the Montreal Airport market rose to $149,900 in 2018, up 18.5% from the previous year. This is a stronger value than what had been projected in the previous HVI, and it was the fourth consecutive year that a double-digit increase was realized. Double-digit growth of 13.8% is projected for 2019, but slower growth of 1.6% is projected for 2020 as the nearly 10% additional inventory which opened in 2019 and will open in 2020 is absorbed in the market.

By 2022, the market is expected move up one more spot to seventh place. Even with this improvement, the Montreal Airport market will remain well below the Vancouver Airport and Toronto Airport West markets, which are expected to rank third and fourth in 2022 with a per-room value of $338,500 and $257,100, respectively, in comparison to $189,400 for the Montreal Airport market.

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 $69.85
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 (f) $122.54
2021 (f) $127.34
2022 (f) $133.82

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)