For a comprehensive review of the Canada market, click below:
HVS In-Depth Canada Hotel Valuation Index:
2019
|
2018
|
2017
|
2016
|
2015
|
2014
|
2013
The TORONTO AIRPORT WEST lodging market is anchored on Toronto Pearson International Airport, which is located in Mississauga and acts as the primary airport for the Golden Horseshoe, Canada's largest urbanized area. Toronto Pearson is the largest and busiest airport in Canada. In 2019, the passenger count surpassed 50 million, officially making the airport a mega hub. Last year, Air Canada launched new international service between Toronto and Mumbai, Berlin, and Reykjavik.
With the increase in passenger counts, coupled with no new supply entering the market, the market-wide RevPAR has surpassed the $100 RevPAR mark for the third consecutive year in 2019.
As a result of the COVID-19 pandemic, Canada has banned entry to almost all international travellers and subsequently all provinces introduced their own travelling restrictions. As a result, nearly all airline companies in North America have announced major route suspensions, internationally and domestically. The RevPAR decline to date in this market is slightly less severe than that of the Toronto Downtown market, as the airport has been housing stranded passengers due to flight cancellations and self-quarantine Canadians returning from international destinations.
Until domestic and international travel restrictions are eased, no recovery is expected for the Toronto Airport West market. The pandemic will undoubtedly have a negative impact on 2020 hotel values resulting in significant value decreases, returning to moderate growth in values by 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%
|
Toronto Airport West RevPAR Change
($CAD)
Toronto Airport West RevPAR
($CAD)
| Year |
RevPAR |
| 2006 |
$79.88
|
| 2007 |
$75.95
|
| 2008 |
$78.15
|
| 2009 |
$64.52
|
| 2010 |
$70.54
|
| 2011 |
$69.25
|
| 2012 |
$69.72
|
| 2013 |
$71.38
|
| 2014 |
$76.22
|
| 2015 |
$82.39
|
| 2016 |
$92.41
|
| 2017 |
$103.99
|
| 2018 |
$115.54
|
| 2019 |
$116.70
|
| 2020 |
$119.19
|
| 2021 |
$120.61
|
| 2022 |
$123.44
|
For more information, please contact:
