Town of Riverview Identifies Prime Hotel Development Opportunity

(RIVERVIEW, NB) – The Town of Riverview has released its Hotel Market Study Executive Summary, highlighting a strong business case for a new economy to midscale hotel development in the community. With increasing tourism, a growing business sector, and no existing hotels within town limits, Riverview presents an ideal opportunity for investors and developers looking to tap into an underserved market.

Study Highlights Strong Market Demand

The study recommends a 60-room, limited-service hotel featuring key amenities such as complimentary breakfast, a fitness center, guest laundry, a market pantry, and potentially a swimming pool. The market outlook is promising, with projected occupancy rates increasing to 70% by 2030 and an attractive competitive rate for Riverview suggested to start at $150.93 per night (2024 dollars, growth projected at 3% per year).

Why Riverview?

• Untapped Market: There are currently no hotels in Riverview, despite a growing demand from meetings and groups, as well as leisure travelers.
• Proximity to Key Attractions: Easy access to Moncton’s downtown core, the Avenir Centre, and the Greater Moncton Roméo LeBlanc International Airport. Riverview is also seen as the gateway to Fundy National Park and Hopewell Rocks, which attract over 600,000 visitors annually.
• Commercial Growth: Over 1,000 registered businesses operate in Riverview including major employers such as Nav Canada (one of the town's largest employers bringing in consistent trainees) with potential to generate business travel, and upcoming projects like the Riverview Recreation Complex are expected to increase visitor traffic from sports tournaments, social events, and more!
• Diverse Local Demand Segments: Business travelers (50%), meetings and groups (25%), and leisure travelers (25%) ensure year-round demand for rooms. Riverview’s target segment, given its strategic positioning and strengths, would represent leisure travelers and meetings and groups.

Development Incentives Available

To support business development, Riverview offers a Commercial Development Grant. This program provides eligible businesses with non-repayable financial assistance if undertaking commercial development or redevelopment projects on commercial-zoned land within Riverview.  

What’s Next?

Riverview is actively seeking commercial developers and commercial-zoned landowners interested in bringing a modern, midscale hotel to the community. If you’re looking for a prime location with strong market potential and municipal support, Riverview could be the opportunity you’ve been searching for.

For more information, please contact: 
📧 economicdevelopment@townofriverview.ca 
📞 506-387-2141