The sale of four new hotels in Winnipeg last year - and construction starting on a dozen more - is evidence that the city is one of the top hotel markets in Canada, according to the 2012 Canadian Hotel Investment Report from Colliers International Hotels.
Colliers said buyers are being drawn to Winnipeg because of the resilience and stability of the economy, the solid corporate base, a healthy convention business and existing and future draws such as the Winnipeg Jets hockey team and the Canadian Museum for Human Rights.
"These are all demand generators that will bring people into the city, and that's what gives investors confidence," said Alam Pirani of Colliers International Hotels.
Pirani cited the hotel building boom in Manitoba as further proof of the confidence investors have in the local market. More than a dozen new hotel projects have been announced in the past year, including new builds and redevelopment. "Investors feel it's a very stable market," he said.
The Colliers report said 2011 was a strong year for hotel deals, with four sales in Winnipeg worth a total value of $39 million.
- Compiled by Geoff Kirbyson
from Western Investor July 2012
