Its not exactly an interview but as anmol said its more like a formal talk. But its said that some of the students pass through with no or a question or two and others are held in 15-20 minutes of talk. So I am not so clear is it shear luck or what!
About the part "how will the college representatives know when we are arriving?", you have paid the fees, and they dont really care if you come or not

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On an honest note, I am attending Humber and NO atleast their representatives are not present at the airport. And I suppose it holds equally true for rest of the colleges. But yes if you are going to put up at College Residence then they might send a cab to pick you up, but it depends from college to college and time when we reach.