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Canada's lodging industry made big comeback in 2022: C&W

1 year ago

Canada’s lodging industry made big comeback in 2022: C&W

Canada’s lodging industry rebounded in a big way in 2022 as revenue per available room (RevPAR) increased 91 per cent year-over-year and was 3.5 per cent over 2019’s year-end level, according to a new report from Cushman & Wakefield.

Forum offers industrial, commercial, retail in S. Vancouver

The president and CEO of Chard Development believes slow recovery in the office sector is an aberration, and he’s backed up his claim with an emphatic statement in South Vancouver. Forum will feature strata retail, industrial and office units.

Purolator invests 'historic' $1B to electrify fleet, terminals

Purolator Inc. will be making a $1-billion investment over the next seven years to electrify 60 per cent of its fleet and dozens of its terminals – the largest investment of its kind in the company’s history.

Approval for projects to be sped up under new Montreal plan

Montreal has rolled out a new strategy that aims to speed up approval for real estate projects and help private developers deal with an administration often decried as too slow and overly complex.

Flagship retail space available in downtown Montreal

One of the most prominent retail spaces in downtown Montreal has come up for lease. Located at 1035 Ste-Catherine St. W., the multi-level retail space occupies the northeast corner of Ste-Catherine and Peel Streets in the popular urban retail zone.

Telsec redeveloping Calgary auto dealer site as retail

Telsec Property Corp. is redeveloping the 36,500-square-foot former showroom of Jack Carter Chevrolet as retail space, making use of its prime location across from Calgary's Chinook Centre. The redesigned building will house Lammle’s Western Wear and Homes Alive Pets.

Industrial real estate agents: Don’t forget the racking

In this article we discuss how and why Industrial Real Estate agents should be connecting with a pallet racking manufacturer for the benefit of their clients.

Sponsored by: North American Steel

Kamloops lends a hand to real estate developers

Real estate developers will likely see their costs drop in Kamloops for at least the next three years. The city is trying to encourage more new builds by dropping its development cost charges, used to pay for expensive infrastructure projects.

Kelowna industrial portfolio for sale at $46M

A top-quality piece of Kelowna industrial real estate is for sale as part of a larger portfolio throughout B.C. The five properties are for sale by MCL Real Estate Group-Re/Max Kelowna for an asking price of $46 million.

GTA firm buys Quinte West industrial development site

Five acres of industrial land in Quinte West's North Murray Industrial Park will be sold to Derry and Tomken Business Centre of Mississauga. A 200,000-square-foot warehouse is planned for the property, about 180 kilometres east of Toronto.

WeWork looks to restructure $3B in debt, raise cash

Co-working giant WeWork is in talks to restructure its $3B in debt, as well as obtain hundreds of millions of dollars to keep afloat while it continues to reshape its operations, The New York Times reports, citing anonymous sources.

Bed Bath & Beyond raises additional $135M to aid turnaround

Bed Bath & Beyond Inc. (BBBY-Q) said on Wednesday it had raised another $135-million in an equity offering and was in the process of rebuilding its business after teetering on the brink of bankruptcy.

Evergrande aims to unveil some debt restructuring terms

China Evergrande Group is aiming to unveil some debt restructuring terms before the next winding-up court hearing on March 20 in order to seek another adjournment, two sources with knowledge of the matter told Reuters.

Genetec opens new experience centre in Mexico City

Montreal-headquartered Genetec Inc., a technology provider of unified security, public safety, operations, and business intelligence solutions announced the opening of a new state-of-the-art experience centre in Mexico City. The centre is located on the 35th floor of Chapultepec Uno R509.

Ontario Greenbelt lands not needed for housing: Group

Ontario’s largest municipalities already have more than 1.1 million new homes in the development approvals pipeline, according to an analysis by the Regional Planning Commissioners of Ontario that casts doubt on the government’s rationale for opening up the protected Greenbelt.

Mortgage rates will never return to pre-pandemic rates: MCAN

VIDEO: Karen Weaver, president and CEO of MCAN Financial Group, discusses the impact of the Bank of Canada's rate pause on mortgages. Weaver says Canadians should expect mortgage rates between 3.5 and 5.5 per cent over the longer term.

Canada's housing markets won't go into 'free fall': RBC

“We’re actually in a situation where we don’t think the housing market is going to go into free fall because there is that tension around supply demand,” Royal Bank of Canada’s Nadine Ahn said. 

Housing affordability shows signs of improving: National Bank

It looks like housing affordability could finally be moving in the right direction. In Q4, the mortgage payment as a percentage of income on a median home shrunk for the first time in nine quarters, says National Bank of Canada.

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