Recession puts curb on investing in Canadian hotels | montrealgazette.com

Investment in Canadian hotels last year dropped to levels not seen since 2004 when the industry was dealing with the after effects of SARS, according to a new report. Colliers International Hotels says there were $414-million in hotels purchased in 2009 -- a 61% decline from 2008. The figure was the lowest since the $360-million of activity in 2004 which followed a devastating year for the hotel sector's revenues as tourism lagged.