In 2005 there were 111 hotels sold for a total investment of $1.6 billion. Of just the hotel assets sold in 2005, HVS Canada appraised $1.1 billion worth of those assets, or 68% of the country's total volume. Major transactions that HVS Canada worked on included the five Westin Hotels in Ottawa, Toronto, Calgary, Edmonton and Vancouver purchased by Starwood; The Four Seasons Hotel in downtown Toronto bought by Prince Alaweed; and the Holiday Inn on King in Toronto bought by Westmont. We appraised every transaction over $50 million.
In 2006, we worked on the Fairmont portfolio for Colony and Prince Alaweed. The Canadian properties included the Banff Springs Hotel, the Chateau Lake Louise, Jasper Park Lodge, Chateau Montebello, Chateau Whistler, and the Vancouver Airport Hotel. This transaction at $3.9 billion, or $45 a share, is the largest transaction in the country.
The Fairmont Chateau Whistler
|The Fairmont Banff Springs||The Fairmont Chateau Lake Louise|
|The Fairmont Vancouver Airport||Fairmont Le Chateau Montebello|
The Fairmont Jasper Park Lodge