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Year End 2000 CANADIAN LODGING OUTLOOK December 2000 Year-to-Date The Canadian Lodging Outlook is a joint monthly publication of Smith Travel Research and HVS International, Vancouver and Toronto, Canada |
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Year End 2000 CANADIAN LODGING OUTLOOK December 2000 Year-to-Date The Canadian Lodging Outlook is a joint monthly publication of Smith Travel Research and HVS International, Vancouver and Toronto, Canada |
| By Betsy MacDonald, MAI, AACI, RIBCS
Since 1993, HVS International -Canada has appraised or evaluated over 450 existing or proposed hotel projects. Over 300 of these projects have been in Canada. This is a far cry from the 1,200 hotels our United States offices appraise or evaluate per year. However, considering we only have 10% of the number of hotel rooms that they have in the United States, we are proud of our accomplishments. One of the more notable projects which we have had the privilege to work on was the Westin Hotel and Resort in Whistler. This hotel was recently named the number one ski resort hotel in all of North America. HVS-Vancouver did the feasibility study and the appraisal. In 2000, we completed an appraisal on the Chateau Frontenac in Quebec City, Quebec. This is one of the most magnificent hotels in the country. We also recently updated an appraisal for the Sheraton Eau Claire in Calgary. This hotel has an outstanding location in downtown Calgary and is the market leader. Jon Lantz, Lorenzo Palumbo and myself opened our HVS International - Toronto office in January, 2000. We are extremely HVS Canada in Review excited to have two offices to better serve our clients across the country. Our Toronto office recently completed an assignment for the Park Hyatt as well as a feasibility study for a proposed Mandarin hotel, both in downtown Toronto. They also completed a complex valuation for the Sheraton Fallsview in Niagara Falls, Ontario. Jon and Lorenzo also started Hospitality Venture Services Inc., the real estate brokerage division of HVS International. This allows HVS to broaden the services offered to our clients. In fact, HVS-Toronto recently arranged the sale of the Ramada Coral Resort and the Ramada Suites Hotel in Niagara Falls, Canada for $16.5-million. The properties were sold on behalf of the Orsini family to the Adamar Hospitality Venture Services Inc. HVS Toronto has also arranged the mortgage financing on this transaction. Hotel Group whose partners own several hotels across Canada. HVS-Toronto has also arranged the mortgage financing on this transaction. We would not be where we are without our associates. A special thanks to Carrie Russell, Monique Rosszell, Eric Pateman, Salim Gulamani, Kimberley Tyls, and Selena Lai. Past associates include Miguel Rivera and Namit Malhotra, both of whom recently transferred to our San Francisco office. One of our first associates, Henrik Bartl, is now with DePfa Bank, AG as Head of International Hotel Financing. Go Figure! A sincere thank you to all of our clients, as well as the general managers, assessors, hotel directors, and others that have helped us along the way. It has been a great eight years. |
| Number of Rooms | Occupancy Rate
2000 |
Occupancy Rate
1999 |
Average Room Rate 2000 | Average Room Rate 1999 | RevPAR
2000 |
RevPAR
1999 |
Room Supply % Change | Room Demand % Change | |
| Nova Scotia Area | 1,345 | 63.3% | 65.8% | $78.36 | $74.01 | $49.60 | $48.70 | 0.0% | -3.8% |
| Halifax, NS | 2,075 | 71.6% | 73.6% | $116.03 | $106.91 | $83.08 | $78.69 | 0.1% | -2.6% |
| Montreal, QC | 14,122 | 69.0% | 69.1% | $129.05 | $119.76 | $89.04 | $82.75 | 0.9% | 0.7% |
| Quebec City, QC | 3,606 | 68.9% | 68.5% | $125.90 | $118.03 | $86.75 | $80.85 | 0.3% | 0.7% |
| Quebec Area | 3,802 | 55.9% | 57.8% | $80.93 | $74.56 | $45.24 | $43.10 | 0.0% | -3.3% |
| Toronto Downtown | 12,318 | 71.6% | 74.0% | $163.70 | $154.10 | $117.21 | $114.03 | 2.1% | -1.2% |
| Toronto North/East | 6,449 | 68.5% | 70.5% | $107.35 | $98.51 | $73.53 | $69.45 | 0.2% | -2.6% |
| Toronto Airport/West | 9,027 | 74.6% | 74.9% | $114.84 | $107.16 | $85.67 | $80.26 | 1.2% | 0.7% |
| Ottawa, ON | 7,565 | 71.4% | 69.4% | $119.30 | $107.46 | $85.18 | $74.58 | 3.8% | 6.8% |
| Ontario East | 4,327 | 61.5% | 64.7% | $90.04 | $82.73 | $55.37 | $53.53 | 3.3% | -1.7% |
| NiagaraFalls, ON | 5,540 | 59.1% | 61.0% | $118.74 | $113.17 | $70.18 | $69.03 | 5.7% | 2.5% |
| Ontario Southwest | 5,746 | 60.7% | 61.0% | $93.14 | $86.67 | $56.54 | $52.87 | 0.8% | 0.3% |
| Ontario North | 4,183 | 60.4% | 63.6% | $88.38 | $82.66 | $53.38 | $52.57 | 0.2% | -4.8% |
| Ontario Central | 6,930 | 61.7% | 64.2% | $89.69 | $84.08 | $55.34 | $53.98 | 1.6% | -2.4% |
| Winnipeg, MB | 3,051 | 65.8% | 71.9% | $88.41 | $88.89 | $58.17 | $63.91 | 1.9% | -6.8% |
| Regina / Saskatoon,SK | 3,843 | 65.7% | 66.6% | $78.81 | $76.02 | $51.78 | $50.63 | 4.0% | 2.6% |
| Calgary, AB | 7,262 | 65.6% | 67.4% | $115.83 | $110.92 | $75.98 | $74.76 | 6.5% | 3.6% |
| Edmonton, AB | 5,002 | 62.0% | 62.3% | $84.64 | $81.74 | $52.48 | $50.92 | 0.8% | 0.4% |
| Alberta Area | 5,081 | 62.0% | 59.7% | $82.03 | $79.81 | $50.86 | $47.65 | 2.9% | 6.9% |
| Mountain Regions, AB | 2,358 | 73.1% | 76.0% | $199.40 | $185.56 | $145.76 | $141.03 | -0.4% | -4.2% |
| Vancouver, BC | 11,871 | 64.8% | 66.4% | $137.59 | $140.04 | $89.16 | $92.99 | 7.9% | 5.4% |
| British Columbia Area | 4,343 | 53.0% | 52.7% | $77.55 | $75.87 | $41.10 | $39.98 | 1.1% | 1.7% |
| Victoria, BC | 2,869 | 61.2% | 63.6% | $116.99 | $112.63 | $71.60 | $71.63 | -0.5% | -4.2% |
| Provinces | |||||||||
| Alberta | 19,802 | 64.8% | 65.5% | $112.68 | $109.53 | $73.02 | $71.74 | 2.7% | 1.6% |
| British Columbia | 22,456 | 61.2% | 62.0% | $129.70 | $127.22 | $79.38 | $78.88 | 3.0% | 1.6% |
| Manitoba | 3,254 | 65.6% | 71.6% | $87.51 | $87.66 | $57.41 | $62.76 | 1.7% | -6.9% |
| New Brunswick | 2,742 | 66.9% | 68.7% | $86.58 | $81.39 | $57.92 | $55.91 | 0.1% | -2.6% |
| Newfoundland | 1,466 | 66.3% | 68.5% | $94.47 | $91.48 | $62.63 | $62.66 | 0.2% | -3.1% |
| Nova Scotia | 3,420 | 68.5% | 70.5% | $102.98 | $94.95 | $70.54 | $66.94 | 0.0% | -2.8% |
| Northwest Territories | INS | INS | INS | INS | INS | INS | INS | INS | INS |
| Ontario | 61,646 | 67.1% | 68.5% | $117.64 | $109.16 | $78.94 | $74.77 | 2.0% | -0.1% |
| Prince Edward Island | 784 | 52.4% | 52.3% | $94.71 | $89.15 | $49.63 | $46.63 | 0.0% | 0.3% |
| Quebec | 21,969 | 66.5% | 67.0% | $121.01 | $112.08 | $80.47 | $75.09 | 0.4% | -0.3% |
| Saskatchewan | 5,330 | 60.9% | 63.0% | $74.22 | $71.02 | $45.20 | $44.74 | 2.5% | -0.9% |
| Yukon Territory | 384 | 49.7% | 45.3% | $79.97 | $80.40 | $39.75 | $36.42 | 0.0% | 9.8% |
| Canada | 143,253 | 62.0% | 62.9% | $99.23 | $93.54 | $61.52 | $58.84 | 1.8% | 0.3% |
| HVS Toronto, led by Jon Lantz and Lorenzo Palumbo, in conjunction with Betsy MacDonald, MAI, AACI, (Managing Director of the Vancouver office), to diversify the range of services for our Canadian clients, established Hospitality Venture Services, Inc., Real Estate Broker. Now, in addition to appraisals, market studies, valuations, and the variety of consulting services offered, HVS Toronto provides immediate access and extremely strong contacts in hospitality brokerage in Canada. For further information, contact HVS Toronto at (416) 686-2260. |
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Kimberley Tyls HVS International 4235 Prospect Road North Vancouver, BC V7N 3L6 (604) 988-9743, ext. 21 [email protected] www.hvsinternational.com |
| Also See | Limited-Service Growth in Canada - Where�s it Going? / The Canadian Lodging Outlook / January 2001 |
| Canadian Lodging Outlook / May 2000 Year to Date Statistics / HVS International - Canada / July 2000 | |
| The Rule of Thumb Method...Does It Still Hold Weight? / Elaine Sahlins - HVS / Oct 2000 | |
| What�s Hot and What�s Not in Western Canadian Hotel Markets / Mar 2000 |