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B.C. Tops In Hotels

Vancouver Hotel
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B.C. was second to Alberta in hotel transaction activity in Canada’s West in 2013, according to a Colliers International Hotels study. Overall, hotel investment in Canada surpassed $2B in 2013, the strongest performance in a decade. Positive economic conditions, low cost of debt, attractive properties along with attractive yields were the reasons, Colliers' VP Robin McLuskie says. She's with colleague Russell Beaudry.

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Where is the ceiling? Robin says much of the volume was attributed to “strategic deals that we consider a special case.” Colliers is forecasting between $1.25B and $1.75B for 2014. (We're guessing the larger number, since Frozen will be on hotel pay-per-view this year. And, you know, kids.) Increased availability of “significant urban assets” should entice foreign interest, Robin says. B.C. did over $300M in business in 2013 (The Greater Vancouver Area did $226M). In the image is the Westin Bayshore, part of the Westin Canadian portfolio that sold to Starwood Capital Group.