Canada -  New Brunswick

For a comprehensive review of the Canada market, click below:
HVS In-Depth Canada Hotel Valuation Index:   2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013

NEW BRUNSWICK, the largest of the three Maritime Provinces, is situated on the eastern coast of Canada. The three main urban centres—Fredericton, Saint John, and Moncton—have service-based economies in which healthcare, education, retail, finance, and insurance are the predominant sectors. The rural primary economy involves forestry, mining, mixed farming, and fishing. According to the Conference Board of Canada, New Brunswick sustained GDP growth of 1.4% in 2019.

As the COVID-19 pandemic is hitting hard the provincial economy this year, Conference Board of Canada projects a contraction in the provincial economy by the end of 2020. New Brunswick’s measures to stop the virus spread include school closures, and the closures of most non-essential businesses, including the tourism-related, food services and accommodation, and recreation businesses, which are expected to be hit the hardest by these measures. On the bright note, the province’s health care sector makes up a larger-than-average share of the local economy, and this is one of the few industries that will see a boost in activity over the next few months, as well as help to support the lodging industry by accommodating healthcare workers and patients at the local hotels.

As a result of the COVID-19 pandemic, demand is expected to plummet this year, particularly in the leisure and group travel, driving a significant decline in the hotel values. A moderate recovery in hotel values is anticipated in 2021.

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%

For more information, please contact:

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