Keyword: Colliers International
The property was sold to a Manitoba-based investor, developer and management company that plans to renovate and add mixed-use elements.
The drop in new hotel supply is keeping New Zealand from reaching its tourism boom.
According to Colliers International, Canada's hotel transaction volume is expected to fall short of last year's $3.5 billion.
Singapore's new hotel supply growth is forecast to slow down between 2018 and 2019, despite the growing number of tourists to the country.
Prime hotels in Croatia recorded a yield of 6.5 percent last year, and Colliers International expects that yield will rise even more in 2018.
Cities like Hull and Plymouth entered the list of top 10 "hot spots" for UK hotel development and acquisition for the first time in 2017.
The seven-hotel portfolio, which has properties operating under AccorHotels and Marriott brands, is selling at an average price of $230,000 per room.
In a £12.5-million deal, BGAM acquired the Holiday Inn Salisbury-Stonehenge from Colliers International on behalf of Fiesta Enterprises.
IProsperity has been eyeing various acquisition opportunities in major Australian cities.
Canada's stable political and legal environment has attracted foreign hotel investors.