Lodging investment through Q1 reached approximately $350 million with notable activity in Ontario and increased trading in Western Canada, backed by solid operating fundamentals. Download the Hotel INNvestment Canada Q1 2018 Report which includes an updated Canadian Tourism Snapshot by Colliers International Hotels.
- Ontario was the primary driver of investment activity with 10 deals in the GTA, Ottawa, Kitchener, Sarnia and northern Ontario markets accounting for a 40% share of national activity.
- InnVest Hotels, Canada’s largest hotel owner completed the sale of the 12-property Diversified Canadian Hotel Portfolio to a joint venture between Manji’s Holdings Ltd. & Palm Holdings.
- STR reported a new Q1 national RevPAR record, growing 7.3% year-over-year.
- Travel by non-residents into Canada achieved a new record in 2017 with 20.9 million cross-border inbound travelers, breaking a record last achieved in 2002 based on a review of Statistics Canada data.