Canada’s festival capital in its two-act year: 11.8 million visitors (+7.3%) spending a steady $5.8 billion, an airport holding its record plateau while transborder fell 9.5%, containers growing at the port in a down year — and the biggest event slate since 1976 waiting in 2026. Eight studies, one hub.
Montreal enters the series as Canada’s contrarian market: the only major city to lose occupancy (−4.5% to 66.6%) and RevPAR (−2.8% to CAD 155.87) in the country’s record hotel year — while adding 4% more rooms and printing 90+ days above 80% occupancy. The soft average is a calendar story: a tariff-shocked spring, then a domestic-led recovery that closed the year strong.
The gateways hold their patterns: YUL kept 22.4 million passengers flat on domestic (+1.9%) and international (+2.4%) growth against a −9.5% transborder slide, with CAD 960.8 million in revenue and a $10-billion expansion underway; the Port of Montreal grew containers 3.6% to 1.52 million TEU in a down tonnage year, and the REM light metro’s second segment opened in November 2025.
The demand engine is the most diversified in the Canadian arc: 8.8 million Canadians (+10%), a record 470,000+ French visitors, and a 2026 calendar — UCI Road World Championships, Formula 1 in May, an expanded festival season — built to convert the city’s late-booking, table-and-bed spending into event-priced yield.
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