Canadian hotel transaction volume in Q2 2014 is reported at approximately $170 million, although this excludes the sale of the Fairmont Empress in Victoria, BC as pricing is confidential. With this significant sale excluded, year-to-date (“YTD”) transaction volume has reached approximately $374 million, less than half the volume reported at the same time last year. Further, approximately 20 fewer deals were completed during this time in 2014 versus 2013.
National per room pricing was reported at $67,000, well below $92,000 as reported in the fi rst half of 2013. Eleven trades were reported at over $100,000 per room versus 16 at this time last year.
Only one hotel has sold for over $50 million, compared to four above this threshold at this time last year.
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