TORONTO — Hotel transaction volume in the first half of 2015 has surpassed 2007 levels, according to Colliers International Hotel’s “INNvestment Canada” mid-year transaction report. The robust real estate market saw an aggregate transaction volume of more than $915 million for the first half of the year, a 60-per-cent increase from the same period in 2014 and surpasses record 2007 levels of $871 million for the first half of the year.
Including strategic trades, the average price per room grew by 46 per cent to $106,100; without strategic trades, it grew by six per cent from $72,800 to $76,900. Sales included the 58-room Comfort Inn Barrie in Ontario ($3.2 million); and the 254-room Delta Brunswick in Saint John, N.B. ($57 million).
The majority of national trades took place in secondary and tertiary markets, while urban markets accounted for the majority of deal volume. Regionally, Western Canada garnered the highest per-room pricing, while Eastern Canada led on volume. Ontario experienced 48 per cent of deal volume, followed by British Columbia and Quebec. Meanwhile, Atlantic Canada accounted for only three per cent of national deal volume.
To download the full report visit colliershotels.com.