Canadian hotel investment volume reached $1.88 billion through Q3, up over 14% year-over-year with the closing of several marquee transactions.

Highlights:

• Q3 saw nearly $800 million of hotels transact across the country, supported by ample capital availability and a backdrop of resilient operating fundamentals.
• Fueled by the sale of several large full-service and luxury hotels, national average price per key surpassed $232,000, with year-over-year pricing gains recorded across all service segments.
• In Q3 alone, two major hotel transactions surpassed $100 million: the Ritz-Carlton Toronto and the Shangri-La Vancouver. Year-to-date, there have been a total of eight trades over $50 million including five over $100 million.
• Beyond headline trades, investment activity remains fluid across all market tiers. Transactions up to $25 million represented roughly 85% of year-to-date deals, underscoring sustained investor demand for hotels in secondary/tertiary markets.
• With an active deal pipeline, Colliers forecasts that year-end transactions will easily surpass $2 billion, outpacing 2024 levels.

Download the latest INNvestment Canada Hotel Report for preliminary transaction highlights and selected trades from the third quarter of 2025.