In Brief: Colliers’ Q3 2026 Canadian Hotel Investment Report details recent trends in hotel transaction volume, pricing, and investor activity, providing updated benchmarks and insights for owners, operators, and investors assessing opportunities and risks in Canada’s hospitality real estate market.
-
Colliers Q3 2026 Canadian Hotel Investment Report – Image Credit Colliers
Canadian hotel investment volume reached $1.4 billion through Q3, with activity concentrated in smaller, limited-service assets.
Highlights:
- $300 million in transaction volume occured in the third
quarter across 23 trades, with Ontario accounting
for nearly half of activity. Ottawa led the momentum,
along with a cluster of three Thunder Bay transactions,
highlighted on the following page. - Investors rotated toward limited-service and mid-market
hotels, attracted by stable cash flow and accessible entry
pricing. Year-to-date volume trails a record 2025, which
was boosted by five $100M+ urban and luxury trades,
impacting the national averages. - 83% of YTD trades were under $25 million and 64% at
$10 million or less, giving private investors and owner-
operators a broad set of entry points across secondary
and tertiary markets. - Limited-service hotels are the standout performer.
Segment volume is up 50% year-over-year, surpassing
$500 million, representing 40% of YTD volume and 75%
of trades, while average price per key rose 8%
Download the latest INNvestment Canada Hotel Report for preliminary transaction highlights and selected trades from the third quarter of 2026.