MONTREAL—Will you be out on the town or snug at home?

Starting at 10 p.m. thousands of Montrealers are poised to descend on the Old Port for the city’s biggest New Year’s Eve party, while many will look for something more low-key.

Either way, champagne is expected to flow.

With live music at Place-Jacques-Cartier, the party will continue after a 15 minute firework display lights up the night at the stroke of midnight. A giant dance floor will be open at the Old Port and the area’s skating rink will be open until 2 a.m.

Organizers expect as many as 40,000 to attend.