Tourists will be flocking to Montreal this weekend, largely for the three-day Osheaga music festival at Parc Jean-Drapeau - and Montreal's hotel industry is going to be raking it in as room rates skyrocket during the three-day weekend.
Travel website Trivago says the average hotel room rate is shooting up by 34 per cent this weekend, as music-loving out-of-towners take in acts like Jack White, Lorde, OutKast, Skrillex and the Replacements.
Even smaller hotels are getting in on the action: La Presse reports one two-star location boosting its rate by an eye-melting 555 per cent.
Trivago spokesperson Claude Paradis says this reflects Osheaga's growing pull as a destination event.
"The second-highest change in hotel prices this summer is Osheaga," she says. "The prices speak for themselves."
The highest spike is during Grand Prix weekend, when hotel rooms can more than double their value.
Paradis adds that while other high-profile events are taking place this weekend, including the Rogers Cup, the gay-themed Divers/Cité and the Fantasia Film Festival, the nine-year-old music festival is the dominant draw.
Anecdotal evidence suggests that even tourists using alternative arrangements such as AirBnB are paying a high premium.
Osheaga organizers estimate that Montreal's hotels are at 98 percent capacity.