News
Over $2B In Hotel Transactions
January 15, 2014
Volume in Canadian hotel transactions grew by over two-thirds year-over-year in 2013, with significant increase in average per room pricing and average deal size, according to a new Colliers study released today. The reason? Much of the activity came down to asset sales in major urban markets across the country, which is anticipated to continue in 2014. There was over $2B in transaction volume last year, highlighted by the sale of the Westin Canadian Hotel portfolio ($765M; above is the Vancouver Westin Bayshore). One of the highlights: 72% of the domestic and international hotel and lodging investors surveyed remain positive or somewhat positive Canada's economy over the next three to five years.
