The global credit crunch and the recession that followed have hit the Canadian hotel real estate sector, which experienced a 77 per cent decline in investment activity, falling to $1.1 billion in 92 transactions over the past year, according to Colliers International Hotels' 2009 Canadian hotel investment report released Wednesday.
The report also found the average price per room fell by 25 per cent to $116,500 in 2008 from$154,200 the previous year. Although the transaction volume was down from a record$4.6 billion in 2007 with 168 transactions, last year was the fifth-strongest year of activity on record. "Although the current climate looks bleak, the lodging industry is in a much better position compared to previous downturns as it hasn't been inundated with oversupply and distressed hotels," said Bill Stone, executive managing director with Colliers International Hotels. "The past has taught us that the hotel industry can come back stronger after each downturn." According to Susan Thompson, research manager at Avison Young Commercial Real Estate in Calgary, there was only one hotel sale last year in Calgary -- the Delta Bow Valley for$115.4 million, or $289,950 per unit. In 2007, there were three city hotel sales--Days Inn for $12.25 million ($91,418 per unit);Lakeview Signature Inn for $24.5 million ($204,167 per unit) and Howard Johnson for $4.385 million ($91,354 per unit). Alberta had 14 hotel transactions in 2008 for a total of $133 million and that worked out to the highest price per room in the country at $137,700. The Colliers report also said 80 new hotels with about 8,900 rooms opened last year in Canada, representing a 2.4 per cent increase in sup-ply, and 74 new hotels are expected to open this year. Nationally, hotel sales in 2006 totaled 141 for almost $3 billion and in 2005 there were 104 sales for $1.7 billion. "These are challenging times with international governments acknowledging the recessionary pressures and implementing spending strategies to stimulate the economy," said the Colliers report. "The return to a lower Canadian dollar and reduced fuel prices will likely not be enough to spur lodging demand growth in 2009, particularly as airlines reduce capacity and consumer and business confidence remains weak. This website is basically created because I want to collect all types of Travel in formation on my site but it is difficult to do this.I have added most of the popular Items means 7 star hotels etc..This website contains 7 star hotels,6 star hotels,5 star hotels , Resorts and the main thing CROWN PLAZA.Crown Plaza are basically very expensive for a small peoples.These are basically used on International level like Ambassadors etc.Please send us any new hotel and that have a good look so You can send us a major Description of it and overview picture of it.That's all it you want to see some major hotels and some things so visit the pages of this website.My E-mail is hwaqas33@gmail.com.. Thanks Please us your comments.We are continuously trying to make this website better.So please feedback us and If you want to share anything so please share..  |
