Following what’s characterized as the most difficult quarter yet recorded for Canadian hotel owners and operators, industry analysts are tracking the arduous climb back from the early April trough when the national occupancy rate bottomed out at 12 per cent. Colliers Hotels’ recently released INNvestment report now concludes the sector has moved from survival to recovery mode as it absorbs and responds to a 54.2 per cent year-over-year drop in revenue per available room (RevPAR) and a 46 per cent year-over-year slide in occupancy for the first half of 2020.
With the next heating season on approach, it’s critical to execute on your building’s mechanical system’s upgrade to make sure you’re providing tenants with fresh, filtered air, and a reliable supply of hot water before the cold hits. » READ MORE
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Investment deal resumption foreseen for Q3
Static cap rates reflect limited transactions in the second quarter of 2020, but commercial real estate analysts express confidence that asset values are holding under COVID-19-related pressures. »READ MORE
IN CASE YOU MISSED IT: Ontario Electricity Rebate applied unevenly
Many condominium corporations and owners of multi-residential rental buildings can expect higher electricity costs this fall when hydro accounts specifically tied to the common areas of larger buildings lose eligibility for the Ontario Electricity Rebate (OER).»READ MORE