‘A peak year for travel into Canada’: Hotel sector investments hit $4B as weaker loonie attracts Chinese capitalApril 7, 2017 4:39 pm
Hotel sales activity is expected to fall in 2017 after the second best year on record for volume, as Chinese investment helped drive the market last year.
Hotel sales transactions hit $4.1 billion last year, Colliers International Hotels said Thursday, but the company expects that figure to decline to $3 billion in 2017.
“The low Canadian dollar, the outflow of Chinese capital, hospitality assets’ generally higher yield, and hotels’ strong operating performance are increasing liquidity in the market,” said Alam Pirani, executive managing director of hotels for Colliers.
Categorized in: Financial Post