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
As Canada’s Capital Region, OTTAWA-GATINEAU has a significant service sector, which includes public administration that accounts for one-fifth of the region's jobs and is responsible for a quarter of the city’s GDP. The professional, scientific, and technology services industry are the region’s other key sectors, with the high-tech sector experiencing the most significant growth in the last few years, which has also helped in supporting the city’s 2.1% growth in GDP in 2019.
Lodging demand in Ottawa–Gatineau grew in 2019, however this growth was not enough to offest an increase in supply, which led to a decline in RevPAR in 2019. As of Q1 2020, the travel restrictions and physical distancing measures implemented by the federal and provincial governments to slow the spread of the COVID-19 coronavirus, caused the closure of all non-essential businesses and the closure of borders to all international travellers. Most of Ottawa-Gatineau’s industries are experiencing negative shock to demand, particularly the accomodation sector. With the parliament closed, all meetings cancelled, and no leisure travel, the city’s demand for accommodation has collapsed. With major tourist draws such as festivals cancelled this year, the leisure travel to Ottawa is not expected to recover this year and with virtually all meetings and conferences cancelled, a signicicant decline in the hotel values is expected. As borders re-open, tourism activity slowly resumes, and most aspects of economy have returned to normal operations, we expect a moderate recovery in hotel values in 2021.
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:
($CAD)
Legend
| Significant Value Increase:
|
Greater than +10%
|
| Moderate Value Increase:
|
Between +3% and +10%
|
| Stable Values:
|
Between -3% and +3%
|
| Moderate Value Decline:
|
Between -3% and -10%
|
| Significant Value Decline:
|
More than -10%
|
Ottawa-Gatineau RevPAR Change
($CAD)
Ottawa-Gatineau RevPAR
($CAD)
| Year |
RevPAR |
| 2006 |
$89.32
|
| 2007 |
$93.98
|
| 2008 |
$95.99
|
| 2009 |
$89.77
|
| 2010 |
$91.77
|
| 2011 |
$96.36
|
| 2012 |
$97.38
|
| 2013 |
$95.22
|
| 2014 |
$100.92
|
| 2015 |
$109.90
|
| 2016 |
$113.71
|
| 2017 |
$129.71
|
| 2018 |
$125.89
|
| 2019 |
$125.34
|
| 2020 |
$129.45
|
| 2021 |
$129.32
|
| 2022 |
$131.72
|
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