Montreal hotel occupancy rates near pre-pandemic levels

The 4th quarter of 2022 saw a hotel space tenancy rate of 69 percent.

Author of the short article:

La Presse Canadienne

La Presse Canadienne

Marie-Ève Martel

Published Feb 16, 2023 1 minute read

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A hotel room
” As quickly as health constraints were raised, we saw travelers returning to us,” states hotel association president Jean-Sébastien Boudreault. Photo by John Lappa/ Postmedia News files

After 2 tough years due to the COVID-19 pandemic, higher Montreal’s hotel market is slowly returning to life.

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According to information from the Association hôtelière du Grand Montréal, the 4th quarter of 2022 saw a tenancy rate of 69 percent, comparable to prior to the pandemic.

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In the very first quarter of 2022, the typical rate was 32.8 percent, well listed below the 52.8 percent 3 years previously. The average for 2022 was 60.7 percent.

The association states it is pleased and motivated by the healing, keeping in mind that “nearly all the healing was carried out in just 3 quarters.”

The association, which has members representing an integrated 20,000 hotel spaces, stated the COP15 biodiversity conference at the Palais des congrès enabled the market to end up the year on a favorable note, with tenancy 10 percent greater than 2019, versus 10 percent listed below 2019 for the remainder of the year.

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” As quickly as health limitations were raised, we saw travelers returning to us,” stated association president Jean-Sébastien Boudreault. “Right away, we saw that individuals aspired to take a trip, to satisfy, to see each other.”

He stated he’s positive for 2023, as occasions held off from 2020 and 2021 continue to capture up. By the end of 2024 or a long time in 2025, the association anticipates the level of service tourist to reach pre-pandemic numbers.

Prices have actually increased in the middle of skyrocketing inflation. 4 years back, a typical space was $15238 3 years later on, with low tenancy rates, it was $13651, however in 2023, it climbed to $19203 per night.

This story was produced with the monetary help of the Meta and Canadian Press News Fellowship.

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