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Monique Rosszell , AACI, MRICS Managing Director – HVS Toronto Brian Flood, AACI, MRICS Vice President Valuation and Consulting CBRE Hotels Charles Suddaby , MRICS VP Hospitality & Gaming, Practice Leader Cushman Wakefield. The Hotel Industry in Canada. Monique Rosszell, AACI, MRICS
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Monique Rosszell, AACI, MRICS Managing Director – HVS Toronto Brian Flood, AACI, MRICS Vice President Valuation and Consulting CBRE Hotels Charles Suddaby, MRICS VP Hospitality & Gaming, Practice Leader Cushman Wakefield The Hotel Industry in Canada
Monique Rosszell, AACI, MRICS Managing Director – HVS Toronto
Hotels: ~ 7,900 Rooms: ~439,000 1% 19% 3% 18% 15% 4% 32% 8%
The majority of the proposed rooms will be developed in Ontario in 2012 through 2015. Hotels: 73 Rooms: 10,650
Resource markets will note the largest percentage increase in new rooms.
Positive economic and hotel demand growth forecast in 2012 .
In 2012 demand growth should outpace supply increases and result in occupancy gains…
Flat year for revenues in Canada in 2011, followed by modest growth in 2012… • Average rates in 2012 are still below the 2008 peak of $132.71. • RevPAR is still 5.0% lower than the 2008 peak, without adjusting for inflation.
Thank You! Monique Rosszell, AACI, MRICSManaging Director – HVS Toronto
Hotel Case Study 3 year old Super 8 Motel located in tertiary market in Western Canada ±2.02-acre parcel of land two-storey, limited service, wood construction lodging facility containing 47 guestrooms, also contains ±800 square feet of meeting space, and a complimentary continental breakfast area off the lobby.