B.C. is the second-most active hotel investment market in Canada, accounting for 33% of all deals nationwide in Q2—11 transactions worth $305M, according to new figures from Colliers. Here are the five biggest buys.
1. Comfort Inn & Suites Salmon Arm
Location: Salmon Arm
Rooms: 114
Deal date: June
Purchase price: $10M (price per room: $87,700)
Notes: Located halfway between Vancouver and Calgary, and at the top of a hill overlooking Shuswap Lake. Hotel has a heated pool with waterslide, too.
2. Ramada Victoria Hotel
Location: Victoria
Rooms: 92
Deal date: May
Purchase price: $8.84M (per room: $96,100)
Notes: Two on-site dining options: Heckler’s Sports Bar and Grill and Cecelia Creek Breakfast. There's also a 3,200 SF conference centre.
3. The Steveston Hotel
Location: Richmond
Rooms: 24
Deal date: April
Purchase price: $6.7M (per room: $279k)
Notes: The hotel and its adjacent pub, The Buck and Ear, date back to 1885, and endure as popular village gathering spots.
4. Abigail’s Hotel
Location: Victoria
Rooms: 23
Deal date: June
Purchase price: $5.07M (per room: $220.6k)
Notes: Boutique hotel housed in a 1930s Tudor mansion “blurs the lines" between small luxury hotel and heritage bed and breakfast inn, its website says.
5. Canadas Best Value Inn Langley
Location: Langley
Rooms: 46
Deal date: May
Purchase price: $2,850,000 (per room: $62k)
Notes: Of particular value for enthusiasts of horses and airplanes, with Milner Downs Equestrian Center and the Canadian Museum of Flight just minutes away.
