Vancouver Hotels Boasting Peak Performance Attract DevelopersApril 11, 2018 1:52 pm
With consistently better-than-high occupancy and revenue performance, Vancouver’s hotel sector continues to attract buyers and developers alike. One of the more notable transactions remains the sale of the Hotel Georgia last year to Pacific Reach Properties for a record-breaking price in the $160-million range. Mirroring the state of the residential development market, Vancouver offers a high-barrier market for hotel purchases or development. As a result, only those who can weather the cost prohibitive nature of developing a new site can afford to build a new hotel in the city.
Categorized in: The Vancouver Sun