Hotel investment sales accelerated in the second half of 2022 with some $350 million transacting in the fourth quarter, pushing year-end volume to approximately $1.6 billion. Overall volume paced roughly 20% below 2021, however the decline was driven by a deceleration of alternate use sales from pandemic highs, which dominated 2021 volume. When evaluating acquisitions for ongoing hotel use, investment volume was actually up roughly 10% versus 2021, to $1.2 billion.
Hotel Revenues Roar Back to Life in 2022
While full-year demand for lodging across Canada remained below 2019 levels, the rush to travel following the lifting of remaining restrictions pushed hotel Average Daily Rates (ADR), as well as Revenue per Available Room (RevPAR) to record levels in 2022.
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