Canadian Hotel Investments On The Rise
Canadian hotel investments have made a shocking turn for the better. Global commercial real estate company Avison Young reported that transaction volume for Canada’s six largest markets topped $712 million in 2021, surpassing 2020 and 2019 numbers by 124 percent.
There were 92 hotels deals with an average value of $7.7 million. The Greater Toronto and Hamilton Area were ranked the most active markets, accounting for 53 percent of 2021 hotel sales. The largest transaction of the year? Freed Hotels & Resorts’ $330-million deal included acquiring a portfolio of Ontario resorts from Skyline Investments Inc.
Curtis Gallagher, Avison Young’s Principal and Canadian Hospitality Lead, stated, “Traditionally, the majority of hotel transactions that do occur are smaller, but they stand out more (in 2021) simply because there were so few larger transactions of $25 million-plus that occurred.”
Learn more about Canada’s hotel investment sector and how its keeping pace.
References
McLean, S. (2022, March 2). Canadian Hotel Investment Sector Bounces Back: Ay: RENX - real estate news exchange. RENX. Retrieved March 8, 2022, from https://renx.ca/canadian-hotel-market-investment-2021-avison-young/
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