Canada hotels record first occupancy decline in three months
After three consecutive months of year-over-year increases, Canada’s hotel industry recorded a decline in occupancy, according to CoStar’s July 2024 data.
Proactive Hospitality has acquired the Coast Osoyoos Beach Hotel, B.C. CFO Capital arranged acquisition financing for the deal.
The 65-room Coast Osoyoos Beach Hotel located on Hwy. 3 in East Osoyoos reportedly sold for $13.9 million. The location faces the north basin of Osoyoos Lake covers 0.32 ha (0.78 acres) with the hotel 4,066 sqm (43,770 sqft) in size. The hotel facilities include a leased-out dining area, indoor pool, fitness room and a lobby workstation area.
After three consecutive months of year-over-year increases, Canada’s hotel industry recorded a decline in occupancy, according to CoStar’s July 2024 data.
Opened in 2019 as the largest Residence Inn in the world, the 390-suite Residence Inn Calgary is a 33-storey property located in the Beltline District in downtown Calgary.
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