Hospitality Industry Conference Recaps 2010, Looks To 2011
VANCOUVER, Sept. 22, 2010/ Tartan Group/ - Although the recession hasn’t been particularly kind to Western Canada’s recreational real estate market, those in the industry say that things are finally looking up.
To kick off this year’s Western Canadian Hotel & Resort Investment Conference, from Oct. 18 to 19, 2010, at the Vancouver Convention Centre, a panel of top-experts will give an overview of 2010/11 recreational real estate trends, transactions and projects.
Betsy MacDonald, managing director of HVS International Canada, will speak to the industry performance, focusing on occupancy and room rate trends in major urban and resort markets to-date in 2010 and looking forward to 2011.
“2009 was a dreadful year for the industry,” says MacDonald. “But we’ve seen lots of encouraging signs in 2010 – for example, just in the past three months, there’s been much positive growth in the marketplace. All in all, it’s very good news.”
Eric Malcolmson, director of HLT Advisory Inc. and Bill Stone, executive vice president of CB Richard Ellis Hotels Canada, will update attendees on new supply and transaction activity. The focus of the discussion will be on 2010 recreational real estate transactions to date, including an update of major urban and resort projects under construction, in development and rumoured/planned.
“Resort and hotel sales are escalating with both US private equity and regional private investors showing a keen interest in acquiring assets,” says Stone. “And with only 15 per cent of transaction activity based on distressed sales, the Canadian lodging investment market is more balanced than others at this time. Activity levels are more than 50 per cent ahead of last year and this momentum will continue well into 2011.”
The session, led by Lyle Hall, managing director of HLT Advisory Inc., will also include information on a recently completed survey by Western Canadian hotel and real estate professionals. Following the conference, the results will be made available online at www.hotel-resortinvest.ca.
For more information or to register for the conference, visit
www.hotel-resortinvest.ca or call 416-924-2002.
About the presenters
Betsy MacDonald is managing director of HVS International Canada with more than 25 years of experience in hotel appraisals and feasibility studies. Prior to joining HVS, MacDonald worked for Mariner Hotel Corporation and spent 10 years with the international accounting firm of Pannell Kerr Forster (nka: PKF Consulting), her last position there was director for the South Western Region of the United States. MacDonald is a member of the International Society of Hospitality Consultants, president of the Cornell Society of Hotelmen for Western Canada, a member of the Appraisal Institute of the United States, a member of the Canadian Appraisal Institute and a fellow with the Royal Institution of Chartered Surveyors.
As managing director of HLT Advisory Inc., Lyle Hall is a Certified Management Consultant, a member of the International Society of Hospitality Consultants and a consultant member of the International Masters of Gaming Law. Past consulting experience for Hall includes a role as associate partner of Western Management Consultants and a consultant with Laventhol & Horwath. Hall is co-founder of the Canadian Hotel Investment Conference, a past chair of Tourism Toronto and a member of the Editorial Advisory Boards of Hotelier Magazine and Canadian Gaming Business.
With 18 years of hands-on experience, Eric Malcolmson is an accomplished hotel real estate professional. He is practiced in all aspects of hotel investment and development including project feasibility, deal structuring, financing, design, contract negotiation and ongoing asset management. Prior to joining HLT Advisory Inc. as director, Malcolmson was a principal in G7 Hospitality Group Inc., a Toronto-based boutique hotel asset management and advisory firm. He was formerly vice president of development for Fairmont Raffles Hotels International where he was responsible for sourcing opportunities for Raffles, Fairmont and Swissôtel brands and successfully negotiated contracts for 20 luxury hotel and resort properties with an aggregate real estate value in excess of US$3.5 billion.
As executive vice president of CB Richard Ellis Hotels Canada, Bill Stone joined the company in 2010 to lead one of the largest and most comprehensive hotel brokerage firms in Canada, specializing in the sale and financing of lodging properties as well as providing financing and structuring advice. Stone brings a wide array of expertise having completed advisory and brokerage work in every province and, at a minimum, in the top three markets within each province during the past 22 years. He has been involved in over 250 Canadian hotel transactions, valued in excess of $4.5 billion, with his experience spanning single asset and portfolio sales, independent and branded properties, and from two to five star assets.