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Market Almanac THE MAGAZINE FOR HOTEL EXECUTIVES/OCTOBER~NOVEMBER 2018 $20 THE 2018 WHO’S WHO? MARKET ALMANAC PLUS: THE WHO OWNS WHAT? POSTER PULLOUT CANADIAN PUBLICATION MAIL PRODUCT SALES AGREEMENT #40063470 #40063470 AGREEMENT MAIL PRODUCT SALES PUBLICATION CANADIAN hoteliermagazine.com WYNDHAM GARDEN EDMONTON AIRPORT LEDUC, ALBERTA Welcome to Wyndham Hotels & Resorts STRONG PARTNERSHIPS ARE THE KEY TO OUR SUCCESS Approximately 20 iconic Nearly 58 million Wyndham brands 9,000 hotels Rewards members We are the world’s largest hotel franchise company* Visit wyndhamdevelopment.com or call 800-889-9710 *Based on number of hotels. This is not an offer. Certain provincial laws regulate the offer and sales of franchises. An offer will only be made in compliance with those laws and regulations, which may require we provide you with a disclosure document, a copy of which can be obtained by contacting Wyndham Hotel Group Canada, ULC at 22 Sylvan Way, Parsippany, NJ 07054. In Canada, Days Inn and Travelodge franchises are offered by a third party master franchisee. Most hotels are independently owned and operated with the exception of certain hotels managed or owned by an affi liate of the company. © 2018 Wyndham Hotel Group Canada, ULC. All rights reserved. Volume 30, Number 7 | October/November 2018 Contents THE 2018 WHO’S WHO? MARKET ALMANAC ISSUE Features 13 PIPELINE PRIMER Canada is set to maintain a moderate rate of hotel- development growth By Lodging Econometrics HOTEL BRANDS 14 LISTINGS 17 DIRECTORY OWNERS, DEVELOPERS AND FRANCHISORS 23 LISTINGS 33 DIRECTORY MANAGEMENT COMPANIES 42 LISTINGS 47 DIRECTORY SERVICES PLUS: THE 48 ARCHITECTS & DESIGNERS WHO 49 CERTIFIED VALUATION CONSULTANTS 50 CONSTRUCTION COMPANIES OWNS WHAT? 50 CONSULTANTS POSTER 51 HOTEL BROKERS 51 HOTEL REITS 52 PURCHASING COMPANIES 52 SOURCES OF FUNDING Departments 2 EDITOR’S PAGE 3 CHECKING IN hoteliermagazine.com OCTOBER/NOVEMBER 2018 HOTELIER 1 EDITOR’S PAGE TAKING THE PULSE ROSANNA CAIRA | EDITOR & PUBLISHER lmost two decades after the first [email protected] WOW poster debuted, amidst a AMY BOSTOCK | MANAGING EDITOR flurry of activity driven by REITs, [email protected] A DANIELLE SCHALK | ASSOCIATE EDITOR the hotel landscape continues to evolve on [email protected] a daily basis, with hotels changing hands JORDAN MAXWELL | SPECIAL PROJECTS EDITOR regularly. Two years after the mammoth [email protected] takeover of Starwood Hotels by Marri- DEREK RAE | MULTIMEDIA MANAGER ott, the M&A pace may have subsided [email protected] COURTNEY JENKINS | DESIGN somewhat, but buying and selling will [email protected] always be at the forefront of this industry. JHANELLE PORTER | SOCIAL MEDIA/EVENTS CO-ORDINATOR According to Colliers’ recent Investment [email protected] Report, the pace of investment has slowed in CHERYLL SAN JUAN | ACCOUNT MANAGER the second quarter of this year, but western [email protected] hotels are starting to rebound after a tumultuous few years. In the first half MARIA FAMA VIECILI | ACCOUNT MANAGER [email protected] of 2018, there was a little more than $800 million in lodging transactions ELENA OSINA | ACCOUNT MANAGER nationally — 10 per cent below comparable levels in 2017 ($893 million) [email protected] when excluding strategic and M&A transactions. At the same time last year, WENDY GILCHRIST | SENIOR ACCOUNT MANAGER investment in the country totalled $1.3 billion. [email protected] Between 2013 and 2017, there was an influx of foreign and institutional DANIELA PRICOIU | CONTROLLER capital into hotel real estate but, in 2018, there’s a mix of private domestic [email protected] buyers, driven by a strong hotel-operating and economic landscape, motivated TAL ROZIN | ADMINISTRATIVE ASSISSTANT [email protected] buyer pool and dynamic debt markets. Despite a decrease in the larger invest- ment sales in major markets, which impacted overall volume, the first half of CIRCULATION | PUBLICATION PARTNERS the year has seen a strengthening of volume in Western Canada and overall [email protected] (905) 509-3511 fluid trading in secondary and tertiary markets across the country. ADVISORY BOARD Colliers estimates the volume of sales in 2018 should range between $2 and $2.5 billion — representing a decline from recent years. Here are a David McMillan, AXIS HOSPITALITY INTERNATIONAL; few other highlights: Bill Stone, CBRE HOTELS; David Larone, CBRE HOTELS; Anthony Cohen, CRESCENT HOTELS — GLOBAL EDGE INVEST- • Eastern Canada (defined as east of Manitoba) led the country for MENTS; Charles Suddaby, CUSHMAN & WAKEFIELD LTD. — transaction activity with 36 trades totalling $558 million in volume. HOSPITALITY & GAMING GROUP; Christiane Germain, GROUPE • Quebec has overtaken Ontario as the top province for investment volume GERMAIN HOSPITALITE; Michael Haywood, THE HAYWOOD GROUP; Lyle Hall; Ryan Murray, THE PILLAR + POST HOTEL; with the sale of several full-service properties including The Sheraton Geoffrey Allan, PROJECT CAPITAL MANAGEMENT HOTELS; Centre Hotel, Marriott Château Champlain in Montreal and the Delta Stephen Renard, RENARD INTERNATIONAL HOSPITAL - ITY & SEARCH CONSULTANTS; Anne Larcade, SEQUEL HOTELS Quebec. & RESORTS • Western Canada (defined as west of Ontario) saw rebounding sales activity HOTELIER is published eight times a year by Kostuch with a nearly 80 per cent increase in the number of trades and more than Media Ltd., 23 Lesmill Rd., Suite 404, Toronto, Ont., M3B 3P6, (416) 447-0888, Fax (416) 447-5333. All rights reserved. PROVIDED BY VIA CIBO PHOTOGRAPHY BY NICK WONG, LOCATION 50 per cent increase in deal volume year-over-year, fuelled by higher activity Subscription rates: Canada: $25 per year, single issue $4, in Alberta and the resumption of trading in Saskatchewan. U.S.A.: $30 per year; all other countries $40 per year. Canadian Publication Mail Product Sales Agreement #40063470. • Nearly 40 per cent of transaction volume was located in secondary and Member of Canadian Circulations Audit Board, the American Business Media and Magazines Canada. We acknowledge the tertiary markets ($301 million) with pockets of investment activity seen in financial support of the Government of Canada through the Northern Ontario, Atlantic Canada and southeastern British Columbia Canadian Periodical Fund for our publishing activities. Printed in • Interestingly, private capital sources have been more active so far in Canada on recycled stock. 2018 with Real-Estate Companies (RECs) and Hotel-Investment Return mail to: Kostuch Media Ltd., 23 Lesmill Rd., Suite 404, Toronto, Ont., M3B 3P6. Member of CCAB, a Division of BPA In- Companies (HICs) being the largest net buyers of hotel real estate ternational. We acknowledge the financial support of the Gov- ernment of Canada, through the Canadian Periodical Fund (CPF) in Canada. of the Department of Canadian Heritage. ROSANNA CAIRA Editor and Publisher [email protected] FOLLOW US: For daily news and announcements: @hoteliermag on Twitter Hotelier magazine on Facebook and @hoteliermag on Instagram 2 OCTOBER/NOVEMBER 2018 HOTELIER hoteliermagazine.com CheckingTHE LATEST INDUSTRY NEWS FOR HOTEL EXECUTIVES FROM CANADA AND AROUNDIn THE WORLD tourism business owners right now and [conveying] the implications to you and your business…We’re addressing it in the workplace right now. Everybody wants to talk about cannabis tourism, but I don’t think we’re ready to talk about that yet… we'll be able to learn from other juris- dictions as we move forward.” Amidst the challenges facing the industry, the Chinese market was identified as an important opportuni- ROAD TRIP ty that the industry must be prepared The 2018 Tourism Town Hall series comes to Toronto to capitalize on, but the industry BY DANIELLE SCHALK must be ready to cater to these travel- lers, the panel stressed. As Riley noted, China has become Canada’s largest inbound-tourism ntario tourism-industry Development & Partnerships, ITAC. market after the U.S. and its fastest- professionals gathered at During the panel discussion and growing market. “Their pace of Othe Harbourfront Centre question period, panelists discussed growth in tourism is huge and we in Toronto last month to take part the importance of conveying the need to make sure we get our fair in the Toronto installment of the value of the tourism industry and its share of that. We continue to see 2018 Tourism Town-Hall series. The viability as a career choice. growth with added air access into event — a partnership between the “As an industry, we’re stepping up Canada,” she explained. “And, we Tourism Industry Association of and saying what can we do to dispel have even more visa-application Canada (TIAC), Destination Canada the myth that tourism is a short-term centres that have opened up in (DC), Tourism Industry Association of job; it’s something that you do until China, making it easier for the Ontario (TIAO), Indigenous Tourism you get a real job or until you gradu- Chinese to access our destination.” Association of Canada (ITAC) and ate from school, that it’s seasonal, Tourism Toronto — was designed as that it’s low paying?” Potter said. an opportunity to engage small and “There are great jobs…and we need STAR IS BORN medium-sized business owner/opera- to get that message out there and we Maureen Riley, executive director, tors to better understand efforts being need to get it out there loud.” Industry Partnerships with Destination made on national tourism issues. With cannabis legalization just a Canada,
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