Colliers Hotels brokered the deal and CFO Capital has arranged acquisition financing for the sale of the Fairmont Hot Springs Resort in B.C. to Aldesta Hotel Group.
The resort sits on a total of 1,229 acres including 650 acres of excess development lands and reportedly sold for $40 million. From ski to golf, the 151-room resort (plus an additional 116 timeshare units over 19 buildings) has a unique amenity offering including all-season mineral hot springs featuring three outdoor pools (in addition to indoor pools), seven F&B outlets, three golf courses (two 18-hole courses and a nine-hole course), 14-run ski hill, expansive RV park (190 RV spots and 154 camping and tenting sites over 66 acres) and a host of other amenities and recreation.
Canada’s tourism industry is on track for measured growth in 2025, with potential tailwinds from a weakened Canadian dollar and evolving domestic spending patterns. According to a recent report from the Business…
Germain Hotels and Reliance Properties have announced a recent partnership to open Le Germain Hotel Vancouver.
Spanish hotel chain RIU Hotels & Resorts is set to open its first Canadian establishment, the Riu Plaza Toronto, in late 2025. This addition will expand the company's urban portfolio to 12 properties worldwide.
Canada’s hotel average daily rate (ADR) and revenue per available room (RevPAR) were its highest for any February on record, according to data from CoStar.
