We are launching the Tim’s Tips newsletter to provide clients with the latest hotel and motel industry commercial real estate news. It will keep subscribers up-to-date about the Hotel Industry in Calgary and area.
I will periodically share tips about recent hotel and motel news for Alberta. Please check my website for updates throughout the year!
Canmore continues to be the hottest market in Alberta with few properties available for sale. A recent 1.7 Acre land sale valued at $3 million did not complete.
In Calgary, with occupancy hovering around 61%, hoteliers are facing obvious challenges. Downtown Calgary and Edmonton are faring reasonably well. Some airport properties are maintaining their fair market share.
We note that hotels north of the Calgary Airport are busy. Properties south of the airport have had to change their marketing strategies because there is no immediate access from the airport to Barlow Trail.
In a future edition I’ll talk about smaller centres and rural markets. I’ll also include revealing information about Steady Eddie Manitoba!
Chair—Hotel and Motel Sales Group, Calgary
Associate—Royal LEPAGE Solutions - Commercial