For a comprehensive review of the Canada market, click below:
HVS In-Depth Canada Hotel Valuation Index:
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
The TORONTO AIRPORT WEST market is in Mississauga and centered on Toronto Pearson International Airport (YYZ), which is the primary airport for the Golden Horseshoe. YYZ is the largest and busiest airport in Canada and located within Canada’s largest urbanized area. In 2024, Toronto Pearson International Airport accommodated 46.8 million passengers. The passenger count has yet to reach the pre-pandemic level of 50.5 million set in 2019.
Toronto Pearson currently offers non-stop service to 192 destinations in 68 countries, including 33 domestic non-stop routes. Among the major carriers at the airport are Air Canada, WestJet, and Air Transat. The Toronto Airport West market is home to many Fortune 500 companies. Given the trade conflict with the US, however, these companies have reduced their travel activity, resulting in a decline in demand for this market.
The area remains a prime target for hotel development, supported by its diverse demand base and proximity to Toronto. Between 2025 and 2028, 1,437 rooms are expected to enter the Toronto Airport West market.
The per-room value for this market is projected to reach $307,300 in 2028, raising the HVI value to 3.12, which is the second-highest index for an airport market in Canada, after the Vancouver Airport market.
Toronto Airport West, which was in fifth position in 2024, is expected to fall to sixth place in 2025 and remain there through 2028, as Montreal Downtown nudges up one place.
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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Toronto Airport West RevPAR Change
($CAD)
Toronto Airport West RevPAR
($CAD)
| Year |
RevPAR |
| 2006 |
$79.88
|
| 2007 |
$75.95
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| 2008 |
$78.15
|
| 2009 |
$64.52
|
| 2010 |
$70.54
|
| 2011 |
$69.25
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| 2012 |
$69.72
|
| 2013 |
$71.38
|
| 2014 |
$76.22
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| 2015 |
$82.39
|
| 2016 |
$92.41
|
| 2017 |
$103.99
|
| 2018 |
$115.54
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| 2019 |
$116.70
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| 2020 |
$119.19
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| 2021 |
$120.61
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| 2022 |
$123.44
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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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