Calgary Leads Country in Hotel Value Growth

Hotel investment across Canada reached nearly $1.2 billion last year with 30 of the 116 total sales taking place in Alberta.

The 2013 Canadian Hotel Investment report released this week by Colliers International Hotels said the 116 hotel sales was a 17 per cent increase over 2011 and the third-highest number in the past 10 years. Alberta’s 30 hotel sales totalled $391 million.

Ontario was tops with 50 sales accounting for $460 million.

Leading sales in Alberta were Edmonton ($121 million), Calgary ($80 million) and Fort McMurray and Grande Prairie ($56 million each), said Colliers.

The Colliers report said Calgary should lead the country in hotel sales value growth this year, at about eight per cent.

Real estate companies came out as the leading investor group in 2012, it said, accounting for 43 per cent of total acquisitions, primarily for redevelopment.

No comments

Post Your Comment:

Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.