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 position in Canada close to the US border, which enhances its distribution capabilities. Since the recession in 2009, the city has realized steady GDP growth; an increase of 2.3% is projected for 2018.

The Winnipeg lodging market had a stronger year in 2017. Demand and RevPAR increased by 7.8% and 8.1%, respectively, that year. Winnipeg was host to the Canada Summer Games in the first two weeks of August 2017, and this event brought 20,000 visitors in the area.

The market has been going though a year of adjustment in 2018. Demand is estimated to have fallen 2.0%, leading to a 1.3% decline in RevPAR. Over the forecast period, seven 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, as well as a number of new projects at the airport. In total, 968 rooms will be added to the market between 2019 and 2021. The room supply is projected to increase at a stronger pace than demand in these years, leading to a decrease in occupancy.

The per room value for the Winnipeg market was up 6.1% in 2017 given the improvement in market conditions that year; this is slightly below the 10.3% increase in value that was projected for that year in the previous HVI report.

The value is projected to decline over the projection period while the new supply becomes absorbed. In 2021, the per-room value is estimated to be $128,440, putting the market in fourteenth position in the rankings, down one spot from 2017.

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 $62.32
2007 $67.38
2008 $75.50
2009 $70.81
2010 $76.57
2011 $78.51
2012 $76.76
2013 $73.93
2014 $73.65
2015 $76.79
2016 $80.69
2017 $87.29
2018 (f) $86.16
2019 (f) $87.80
2020 (f) $88.06
2021 (f) $85.99

For more information, please contact:

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