New Hotel Coming to Mississauga Soon
We often hear about new developments (condos, townhomes, commercial buildings, etc) being built in Mississauga, but it's not every day that we find out that a new hotel is set to take shape in the city.
Now, those who plan on travelling into the city (or just taking a little staycation) might be happy to hear that Mississauga has approved the construction of a brand new Residence Inn by Marriott hotel in Mississauga.
The five-storey hotel will be located at 2145 North Sheridan Way, just west of Erin Mills Parkway.
The application was originally submitted in 2016, and the plan for the site has since been approved by the city.
While a five-storey hotel might not sound terribly exciting to people who favour boutique or grander-scale facilities, it's important to note that hotels and motels aren't just good for travelers and locals looking for a change of scenery—they're good for the city's coffers.
Back in April 2018, the city implemented the Municipal Accomodation Tax (which is also known more colloquially as MAT or the "hotel tax").
For those who are unaware, the city has been working to position Mississauga as an actual tourist destination in and of itself and is levying the new tax in order to strengthen its appeal as a place to be.
The new tax is a result of Bill 127--The Stronger, Healthier Ontario Act (Budget Measures) 2017. The bill, which the previous provincial government passed before the June election, allows municipalities to charge a transient accommodations tax.
The four per cent tax applies to continuous hotel, motel, lodge, inn, and bed and breakfast stays that last less than 30 days.
Online private short-term rentals such as Airbnb and HomeAway are also subject to the MAT.
“This is another step forward to putting Mississauga on the map,” said Mayor Bonnie Crombie in an earlier statement.
“Through the MAT, we will be able to reinvest significantly more money into the promotion of Mississauga, our culture, our activities and events, and further promote our city as a tourism destination. There is a ‘buzz’ about Mississauga these days and through the MAT, we will be able to do more to promote our great city to the world.”
City staff estimates that the MAT will produce $9.8 million in revenues annually, with a further $150,000 coming from online private short-term rentals.
Mississauga isn't the first city to impose the tax and is following the Toronto model closely.
The Residence Inn has been planned for an area that boasts a few hotels already. Given its proximity to businesses and the QEW, the hotel will likely benefit business travelers looking for comfy accomodations for a few nights.
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