Canada’s Hotel Industry Is Booming
Canada’s hotel RevPAR exceeded C$200 for the first time on record in August, with ADR up 6.1%. Plus, other hotel deal and development news.
Winnipeg
MCR Secures $300 Million Refinancing for 22-Hotel Portfolio
MCR secured $300 million in refinancing for a 22-hotel portfolio spanning 14 states, replacing $280 million in prior debt through a CMBS transaction with J.P. Morgan and BMO Capital Markets as co-leads.
Alan Woinski and Kim Woinski |
U.S. Hotel Brokers Project Increase in Transactions
Transactions in the $10 to $20 million segment are expected to pick up pace as financing becomes more accessible via the commercial mortgage-backed securities market.
Alan Woinski and Kim Woinski |
U.S. Hotel Construction Projects Up
Pebblebrook Hotel Trust beat expectations in Q2, aided by higher business interruption insurance proceeds and share repurchases.
U.S. hotel construction pipeline sees steady growth with significant upscale and upper midscale projects.
Several new hotel developments and acquisitions are planned, including a boutique Kimpton Virgilio in Mexico City and the first Hyatt Centric in Winnipeg .
Alan Woinski and Kim Woinski |