Intelligence
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.
News
Aldesta acquires Fairmont Hot Springs Resort property
Colliers Hotels brokered the deal and CFO Capital has arranged acquisition financing for the sale of the Fairmont Hot Springs Resort in B.C. to Aldesta Hotel Group.
The resort sits on a total of 1,229 acres including 650 acres of excess development lands and reportedly sold for $40 million. From ski to golf, the 151-room resort (plus an additional 116 timeshare units over 19 buildings) has a unique amenity offering including all-season mineral hot springs featuring three outdoor pools (in addition to indoor pools), seven F&B outlets, three golf courses (two 18-hole courses and a nine-hole course), 14-run ski hill, expansive RV park (190 RV spots and 154 camping and tenting sites over 66 acres) and a host of other amenities and recreation.
