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Canada’s Also Suffering

Published Thursday, March 26, 2009

Times are tough up north, too. Just as in the U.S., the volume of hotel transactions in Canada dropped significantly last year—down 77 percent to $1.1 billion—and isn’t expected to improve much in 2009. According to a report released yesterday from Colliers International Hotels, the country’s real estate market, including the hotel segment, is a victim of “global economic instability and a credit catastrophe.” But Bill Stone, Colliers' executive managing director, may see a glimmer of hope. In recent weeks he’s noticed an uptick in interest in hotel properties in the country. ...

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