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It's a Great Time to Invest in Hotels in Vancouver, BC
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(Posted on Nov 18, 2018 at 07:34PM by Danielle Smyth)
According to a recent report, things are going well for the hotel industry throughout Canada. This is good news for commercial investors who are thinking about breaking into the lodging market. Though the first half of 2018 was about 10 percent behind a comparable period in 2017, it still saw $800 million in hotel transactions throughout the nation. In particular, there was a strengthening in Western Canada.In addition, Quebec has now overtaken Ontario as the top province when it comes to investment volume in this market. This is due in part to the sale of several full-service properties. Estimates suggest that the full year of 2018 should be somewhere in the $2 to $2.5 billion range in the hotel industry.
Sales like that of the Sheraton Centre Hotel in Toronto were impressive--in fact, at $335 million, it was the largest-ever single hotel transaction in Canada. Furthermore, Hong Kong’s Leadon Investment Inc. acquired bcIMC’s SilverBirch Hotels & Resorts portfolio for $1.1 billion. Over the course of the last year, Canada’s hospitality industry has benefited from things like low interest rates, the lower Canadian dollar, and overall economic growth.
If you’re interested in learning more about opportunities for investment throughout Canada in the hospitality industry, get in touch with Marcus & Millichap's Vancouver office. One of our experienced commercial real estate advisors will be happy to provide additional information.
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