Canada -  New Brunswick

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

NEW BRUNSWICK the largest of the three Maritime Provinces, is situated on the eastern coast of Canada. Historically, this province relied upon mining activity, but the economy has now diversified, having moved into new sectors, such as retail and services, tourism, forestry, and industrial fabrication. The increase in demand for seafood products from Europe and Asia has made it beneficial for the trade deals with new emerging markets for the province. The United States is New Brunswick’s largest export market, followed by Europe. In 2015, Canada entered into a free trade agreement with Korea and has increased exports. In 2017, TransCanada cancelled its Energy East pipeline project that would have greatly benefitted the provincial economy. According to the Conference Board of Canada, the province is expected to realize GDP growth of just 0.8% in 2019.

The closure of the Hotel V, in Moncton this year will offset the opening of the new Canvas Moncton—the very first Tapestry Collection Hotel by Hilton in Canada. Five new hotels are expected to open between 2020 and 2022, adding approximately 616 rooms to the room supply of New Brunswick. Demand is expected to grow by just 1.0% in 2019, matching the expected supply growth of 1.1%.  The RevPAR is projected to increase by 2.9% that year.

The per-room value for the province finally crossed the $100,000 mark in 2018, reaching $100,700. After three years of impressive increases in room value, a more moderate 4.2% increase is expected in 2019.  With this slower growth, the room value is expected to reach $117,400 in 2022. New Brunswick is expected to move up to sixteenth place in the value-per-room ranking, up from seventeenth out of 19 in 2018.

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%

New Brunswick RevPAR Change ($CAD)

New Brunswick RevPAR ($CAD)

Year RevPAR
2006 $64.70
2007 $67.07
2008 $65.10
2009 $62.49
2010 $63.00
2011 $62.30
2012 $59.94
2013 $61.29
2014 $62.59
2015 $65.30
2016 $69.71
2017 $75.01
2018 $76.39
2019 $78.68
2020 (f) $80.39
2021 (f) $82.53
2022 (f) $85.96

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)