Colliers International Hotel INNvestment Canada Report Q3 2017 (PDF Download)
A steady sales pace continued through the third quarter with approximately $473 million in closed volume, raising the year-to-date national total to over $2.6 billion
Each year, HVS researches development costs from our database of actual hotel construction budgets, industry reports, and franchise disclosure documents. These sources provide the basis for our range of component costs per room.
While rising numbers are in line with government plans to welcome 60 million tourists by 2030 to help offset struggling areas of the Japanese economy, the hotel industry faces in own challenges in keeping up with growing demand for rooms.
Public sector involvement in convention center hotels is common due to high cost of development and lack of private capital for such investments. Many communities provide public subsidies to projects that are not feasible on a purely private basis.