Canada -  Winnipeg

WINNIPEG is the administrative, financial, and distribution centre for Manitoba. The city has a diversified economy anchored in the manufacturing sector. Winnipeg occupies a central location in Canada close to the US border, which enhances its distribution capabilities. Since the recession in 2011, the city has realized steady GDP growth; an increase of 1.7% is projected in 2019.

Supported by a solid economy and a relatively affordable housing market, the population of Winnipeg is expected to increase by 1.5% this year. The construction and manufacturing sectors are healthy at present, thanks to the low Canadian dollar and the health of the US economy. Slow growth is on the horizon for the local tourism industry, but several new hotels are expected to enter the market this year.

The Winnipeg lodging market had a stronger year in 2017. Demand and RevPAR increased. In 2018, the market went though a year of adjustment; as there was a slight contraction in demand, however the RevPAR still managed to grow by 1.8%.

In 2019, lodging demand is projected to increase by 1.0%, which is not enough to offset the expected increase in supply, resulting in a decline in RevPAR. New hotels have opened this year, including the Residence Inn Winnipeg Airport, the Best Western Premier Winnipeg, and the Best Western Plus Morden. More than five new hotels have been announced for the market, including the Sutton Place Hotel Downtown Winnipeg, the Hilton Garden Inn Winnipeg Downtown, and the Hyatt Place Winnipeg Downtown. In total, approximately 500 rooms will be added to the market between 2020 and 2022.

The per-room value for the Winnipeg lodging market is projected to grow by 1.0% in 2019 to $141,500 with the greatest future growth projected in 2022 as the impact of new supply eases. This leaves Winnipeg in a consistent thirteenth position ranking among the markets.

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%

Winnipeg RevPAR Change ($CAD)

Winnipeg RevPAR ($CAD)

Year RevPAR
2006 $62.31
2007 $67.36
2008 $75.52
2009 $70.81
2010 $76.58
2011 $78.51
2012 $76.76
2013 $73.94
2014 $73.65
2015 $76.79
2016 $80.69
2017 $87.29
2018 $88.86
2019 $87.61
2020 (f) $88.09
2021 (f) $89.85
2022 (f) $93.37

For more information, please contact:

Carrie Russell, AACI, MAI, RIBC, ISHC
[email protected]
  • +1 604 988-9743 (w)