Canadian hotel investment activity totalled approximately $320 million in the fourth quarter, pushing the year-end total to over $1.65 billion based on Colliers Hotels’ preliminary sales data. Investment activity remained resilient year-over-year with established and new entrants to the sector eyeing hotels as investment vehicles in a quest for cash flow while facing headwinds from interest rates and inflationary pressures.
While not a stand-out year for overall volume, 2023 marked a new record for national average price per key metrics which approached $180,000 with nearly 90% of volume attributed to acquisitions for ongoing hotel use.
