Canada -  Ottawa-Gatineau

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HVS In-Depth Canada Hotel Valuation Index:   2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 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.

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)