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INNvestment Canada Hotel Report Q2 2021

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research article
The third wave of COVID-19 infections and lockdowns materially impacted the Canadian lodging market with hotel occupancies in Canada averaging 31.3% in the second quarter, according to STR. However, much progress has been made on curbing case counts and rolling out vaccines, and there is some light at the end of the tunnel with national occupancies perking up since the beginning of June.

Hotel transaction activity picked up materially during the quarter with approximately 45 transactions totaling $548 million, pushing first half volume to near pre-COVID levels  ($784 million compared with $470 million and $830 million in the first half of 2020 and 2019, respectively). Positively, traditional hotel transactions are gaining momentum however transactions for alternate use remain a core component of hotel trading activity. 


INNvestment Canada Hotel Report Q2 2021

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Fraser Macdonald

Director | Hotels | Canada

Toronto Downtown

Fraser has been involved in more than $3 billion of lodging transactions across Canada and the Caribbean since joining Colliers in 2013. In his position as Director, Fraser works closely with the national hotel brokerage team with a focus on financial underwriting, business and proposal development and strategic research.  Fraser provides customized market intelligence for clients on trends influencing lodging investment in Canada and leads production of Colliers’ hotel research including the INNvestment Canada Quarterly Hotel Reports and the Canadian Hotel Investment Report. 

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Russell Beaudry

Senior Director | Hotels


Russell joined Colliers in 2008 and has nearly 20 years experience in the lodging industry. Working closely with the Colliers team and clients, he directs brokerage and advisory assignments. In addition to transaction and advisory responsibilities, he oversees research and marketing initiatives, as well as special projects.

Prior to Colliers, Russell held positions at Marriott and Four Seasons. He earned a bachelor’s degree in Commerce from Ryerson University’s School of Hospitality and Tourism Management and holds a certificate in Hotel Real Estate Investments and Asset Management from Cornell University.

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