"Following a swift rebound in 2022, Canadian hotel investment sales surpassed $300 million during the first quarter of 2023. With more than $100M of closed volume so far in Q2 and sizeable deals in the pipeline, we expect year end volume could approach $2 billion," writes Fraser MacDonald, director I Canada at Colliers international hotels.
According to the report, the travel industry remains in solid recovery mode. Entering the summer months, hoteliers can expect a robust operating environment with many reaping top-line revenues. While still highly asset and sponsor driven, a broader offering of hospitality financing is available in the market and continues to improve, supporting a strong rebound in transaction activity.
Read the full report.
The Ontario government has given the green light to Niagara Parks Commission (NPC) to redevelop the Toronto Power Generating Station (TPGS) into a five-star boutique hotel near the brink of Niagara Falls.
Mundi Hotel Enterprises Inc. has added a prominent property to its portfolio with the acquisition of the hotel component in Highline Metrotown, a mixed-use tower in Burnaby, British Columbia.
Taylor Swift’s Eras Tour kicked off its Canadian leg on November 14, 2024, at Toronto’s Rogers Centre, the first of six sold-out performances that will draw tens of thousands of fans nightly.
As 2024 progresses, the Canadian hotel industry is navigating a shifting economic landscape characterized by inflation, fluctuating interest rates, and moderated demand growth. Cushman & Wakefield’s latest report,…
