92 hotel transactions through Q3

TORONTO—According to Colliers International’s INNvestment Canada Report, there were 92 transactions reported totalling about $828 million through the third quart

TORONTO—According
to Colliers International’s INNvestment Canada Report, there were 92 transactions
reported totalling about $828 million through the third quarter of 2014.

According to the report, this equates to 10,584
rooms transacted this year with an average price per room of $73,300.

The report states proportions of transaction volume
were 53 percent in Eastern Canada and 47 per cent in Western Canada year-to-date
September 2014.

There were
54 properties sold in Eastern Canada with trade of about $439 million and an
average price per room of $57,800, primarily driven by Ontario and Quebec.
Western Canada price per room figures reached $99,900 with 37 hotels
transacting, mainly in British Columbia and Alberta.

The bulk of trades were focused-service and
limited-service properties in secondary and tertiary markets.

Year-over-year, 2013 saw higher with transactions
totaling $897 million by the end of Q3.

Transaction volume for the third quarter was $245
million—there was $197 million in Q1 and $384 million in Q2—with an average
deal size of less than $10 million.

According to Colliers, a variety of urban
full-service assets across the country are in the transaction pipeline, which
should boost year-end volume to more than $1.25 billion.

This quarter's report includes an article by Robert
Sedore of PKF Consulting Canada titled How
Far Have We Come? A look Into Post-Recession Bottom-Line Performance in the
Canadian Hotel Industry.

The full report can be found here.