Canada -  Niagara Falls

NIAGARA FALLS, a natural wonder that functions as a border between Canada and the US, is a major attraction that draws 12 million visitors a year, more than a third of whom stay for the night. Thanks to the low Canadian dollar and the location on the border, the Niagara Falls region is especially attractive to visitors from the United States.

In addition to the falls, the city has an abundance of hotels, casinos, convention centres, professional golf courses, and family-style resorts. Because of these improvements, Niagara Falls is often called the Las Vegas of Canada.

Paradise Walk, a massive development project, is proposed for development in Niagara Falls. The project entails a modern European village with amusement-park rides, international restaurants, boutique hotels, and condos. The grand opening is scheduled for the fall of 2021. Aside from this proposed development, the market has been relatively stable with no notable changes, the exceptions being the closure of the 185-room Comfort Inn Clifton Hill in 2016 and the opening in 2018 of the Holiday Inn Express & Suites Niagara-on-the-Lake and the Staybridge Suites Niagara-on-the-Lake, which together added 150 rooms to the market.

The Niagara Falls market sustained double-digit RevPAR growth in both 2015 and 2016. A more modest increase of just 1.9% is projected for 2018 because demand growth has been almost flat this year, reflecting the slight appreciation of the Canadian dollar. Over the next three years, demand is projected to grow 2.0% per year.

In 2017,the per-room value for the Niagara Falls market grew by 9.0%, representing the fourth consecutive year of solid growth. Less robust growth is projected for 2018 because demand did not grow at the same pace as in 2017; however, the rate of value growth is projected to pick up again in 2019 and 2020. With this growth, the Niagara Falls market moved from twelfth place in the per-room-value rankings in 2016 to ninth in 2017, and it is projected to move into eighth spot by 2021. The per-room value is projected to increase from $131,027 in 2017 to $190,277 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%

Niagara Falls RevPAR Change ($CAD)

Niagara Falls RevPAR ($CAD)

Year RevPAR
2006 $79.24
2007 $79.26
2008 $77.96
2009 $72.43
2010 $73.17
2011 $73.14
2012 $77.06
2013 $77.98
2014 $84.99
2015 $97.04
2016 $106.65
2017 $110.33
2018 (f) $112.33
2019 (f) $116.46
2020 (f) $121.17
2021 (f) $125.11

For more information, please contact:

Monique Rosszell, AACI, MRICS, ISHC
[email protected]
  • +1 416 686-2260 (w)