McGill University campus is situated in downtown Montreal, hence plenty of hotels and other accommodation types (AirBnB, B&B) can be found in its vicinity. The month of May is suitable price-wise as the convocation ceremonies are over (student families are no longer in the city) and the big summer events such as F1 Grand Prix de Montreal, and Osheaga and Jazz Festivals, which attract lots of tourists causing an increase in accommodation prices, take place later in June/July. Each year from May to August, Student Housing and Hospitality Services opens its doors to the public and offer a variety of lodging options that cater to every budget and taste in prime downtown locations.
Nearby Hotels (5 min walk from/to McGill Campus):
Delta Hotels by Marriott Downtown Montreal
Residence Inn by Marriott Downtown Montreal
Hotel Le Germain, Montreal