Hotel investment across Canada reached nearly $1.2 billion last year with 30 of the 116 total sales taking place in Alberta.
The 2013 Canadian Hotel Investment report released this week by Colliers International Hotels said the 116 hotel sales was a 17 per cent increase over 2011 and the third-highest number in the past 10 years. Alberta’s 30 hotel sales totalled $391 million.
Ontario was tops with 50 sales accounting for $460 million.
Leading sales in Alberta were Edmonton ($121 million), Calgary ($80 million) and Fort McMurray and Grande Prairie ($56 million each), said Colliers.
The Colliers report said Calgary should lead the country in hotel sales value growth this year, at about eight per cent.
Real estate companies came out as the leading investor group in 2012, it said, accounting for 43 per cent of total acquisitions, primarily for redevelopment.