Colliers International Hotel INNvestment Canada Report Q2 2017 (PDF Download)
Off the heels of the highest Q.1 volume in Canadian history, the second quarter saw strong sales activity with total year-to-date June transaction volume of $2.14 billion, nearly triple the activity seen in the first half of 2016. Asian capital remains a prominent theme in the market with foreign buyers investing more than $1.2 billion into Canadian lodging real estate, including the sale of the Holiday Inn Montreal-Longueil and Ontario’s historic Briars Resort which closed in the second quarter.
Strategic transactions continue to drive material growth in the market, namely the sale of the bcIMC/Silverbirch portfolio and the former Trump International Hotel & Tower Toronto which together accounted for nearly 60% of year-to-date volume. When excluding strategic deals, the traditional market is still on-track to achieve a new record in 2017 with this component of the market pacing 25% ahead of last year to $893 million with corresponding price per key metrics growing 41% year-over-year to $140,000.
Logos, product and company names mentioned are the property of their respective owners.