Canada -  Toronto Airport West

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.

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)