Q3 saw approximately $267 million of lodging transactions across Canada, pushing the year-to-date total to over $1.1 billion. Download the Hotel INNvestment Canada Q3 Report which includes a real estate debt update contributed by RBC Capital Markets Equity Research and RBC Economics Research.
- Ontario was the top province for hotel investment with 12 transactions representing more than 60% of Q3 volume.
- Sales activity in Alberta continued to rise year-over-over, ranking as the second most active province for trading in Q3 with $42 million in volume.
- First Capital Realty’s (TSX: FCR) purchase of a 60% interest in Toronto’s luxury Hazelton Hotel for $44.4 million marked the first hotel acquisition by a public company this year.