For a comprehensive review of the Canada market, click below:
HVS In-Depth Canada Hotel Valuation Index:
2025
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2024
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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
QUEBEC CITY with a population of 593,000, is the capital of the province of Quebec. Quebec City is the oldest city in Canada and boasts a strong tourism economy. It is also a growing hub for technology and innovation, featuring a significant network of research institutions and a skilled workforce. As the home of Laval University and the University of Quebec, the city also has a reputation as a centre for learning and research.
Economic uncertainty and Quebec’s dependence on US trade and tourism are limiting the potential for employment growth. Limited job creation in various industries, coupled with limited immigration, will keep unemployment low. The unemployment rate in Quebec City is projected to remain low, averaging 2.8% from 2025 to 2028, which is below the projected provincial and national averages.
Quebec City's real GDP is projected to grow at an average annual rate of 1.5% from 2025 to 2029, which is slightly below the projected growth at the provincial level. Quebec City has very much benefitted from domestic tourism and the “elbows up” mentality, which has boosted the city’s tourism appeal, supporting growth in both occupancy and ADR.
Between 2025 and 2028, 414 new rooms are expected to enter the Quebec City market, which is notable. For 2025, the per-room value is projected to increase by 9.9% compared to 2024. The sharp increase in ADR is driving RevPAR growth. The per-room value is projected to continue increasing at a healthy pace, reaching $262,600 in 2028. In terms of ranking, Quebec City is projected to finish 2028 in seventh position, with an HVI of 2.67.
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:
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| ADR Change
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| Market Demand Change
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| Hotel Occupancy Increase/Decrease
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| RevPAR Change
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0.0%
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0.0%
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0.0%
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0.0%
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| Market Supply Growth
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Change In Value For Market:
($CAD)
Legend
| Significant Value Increase:
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Greater than +10%
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| Moderate Value Increase:
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Between +3% and +10%
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| Stable Values:
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Between -3% and +3%
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| Moderate Value Decline:
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Between -3% and -10%
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| Significant Value Decline:
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More than -10%
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Quebec City RevPAR Change
($CAD)
Quebec City RevPAR
($CAD)
| Year |
RevPAR |
| 2006 |
$88.22
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| 2007 |
$87.14
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| 2008 |
$109.85
|
| 2009 |
$84.32
|
| 2010 |
$88.17
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| 2011 |
$93.58
|
| 2012 |
$95.11
|
| 2013 |
$90.55
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| 2014 |
$99.81
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| 2015 |
$103.08
|
| 2016 |
$111.28
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| 2017 |
$119.93
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| 2018 |
$126.09
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| 2019 |
$128.96
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| 2020 |
$135.43
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| 2021 |
$135.82
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| 2022 |
$142.28
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| 2023 |
$
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| 2024 |
$
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| 2025 (f) |
$
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| 2026 (f) |
$
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| 2027 (f) |
$
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| 2028 (f) |
$
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