Carrie Russell, AACI, MAI, RIBC, ISHC

Consulting Experience

Carrie Russell, Partner and Managing Director Vancouver Office is a graduate of the University of Victoria, obtaining a Bachelor of Commerce with Distinction. After graduation and some time spent gaining valuable hands-on experience in the hotel industry, Carrie joined HVS as an associate almost 20 years ago. During this time, Carrie has been influential in establishing HVS’s presence in Canada as the leading hospitality consulting and valuation firm. Carrie has attained designation in both Canada and the United States, having completed the requirements to obtain the AACI designation from the Appraisal Institute of Canada and the MAI designation from the Appraisal Institute in the United States. As well, Carrie is a member of the Real Estate Institute of BC (RIBC), the Real Estate Council of Alberta (RECA) and the International Society of Hospitality Consultants (ISHC).

Over the course of her career, Carrie has provided hospitality consulting services including appraisals, feasibility and market studies, and other specialized consulting services including asset management guidance for over 1,000 hotel properties throughout Canada and the United States. She has authored several articles on various topics relevant to the industry and is a highly sought-after speaker. Carrie is a regular speaker at several conferences including the Canadian Hotel Investment Conference and the Western Canadian Hotel & Resort Investment Conference.

Carrie has served on the HVS Board of Directors and the Senior Leadership Team since 2014, making a significant contribution to the global interests of the company. She has also served as co-Chair on the AIC Vancouver Chapter Board. In addition, Carrie has served on the Board of Directors for North Star Montessori Elementary School in North Vancouver for several years.

In her spare time, Carrie enjoys cheering on her daughter at water polo games and swim meets across the province. She also enjoys all the outdoor activities that the North Shore has to offer.

Testimonials

"It is always a pleasure to use HVS on the various assignments that I'm involved in. Their methodology and openness to 'think outside the box' is appreciated and makes the briefing and deliverable process more timely and comprehensive. I was asked good questions of clarification, in order to generate the most accurate potential scenarios." – Stephen Darling, Stephen Darling Hospitality Consulting

"HVS was transparent, on time, and provided insights into valuation criteria with great value for service." – Bill Pigden, Canada ICI Capital

"Carrie's and Jason's hospitality market expertise and proactive interactions have been a great help in planning our hotel development strategy. I would not hesitate to use them again or recommend them to others." – Andrew Boblin, PBA Land Development

"HVS was prompt in providing us the necessary insight, market intelligence, and background information for making an educated decision in proceeding with our hotel project. At the same time, their valuable information stopped us from proceeding with another hotel project in another city. HVS would be the first go-to stop for all hotel projects." – Babu Kadiyala, Berezan Management

"We recently engaged HVS to carry out a valuation exercise for a hotel in Whistler. We found them to be professional, detailed and meticulous. They have a strong research team and network. Their report was of a high standard that met our needs. Their knowledge of the subject matter is excellent and up to date. We have no hesitation to recommend them for any future hotel consultancy and valuation exercise." – James Tan Keen Meng, Raine & Horne International Zaki + Partners Sdn Bhd

"HVS always provides us with up-to-date market area information and a deep-rooted analysis for all our proposed hotel developments and existing properties, and delivers this information a timely, detailed, bankable report. The client services and attention to detail provided by HVS with each project they engage us on remain unmatched." – Aaron Laurie, Pomeroy Lodging

"HVS experts are very professional and provide accurate market information. All information given in the appraisal is accurate, so it is easy for financial institution to finance hotels. We will surely use HVS services in the future and recommend to other hoteliers." – Hero Parikh (Quality Inn Kamloops), RSRSM Holdings Inc.

"Jason and the HVS team exceeded expectations for our project. They are very knowledgeable about the hotel industry and extremely resourceful in getting data and information to better understand a hotel market." – Juan Duran, Choice Hotels International

"We are very happy working with HVS; the staff are professional and the reports are precise. We gained confidence in our due diligence process with HVS's valuable input and insight on hotel business." – Joanna Kwan, Reliance Properties

Employment History

1997 to present
HVS
Vancouver, British Columbia
Managing Director - Canada

1995-1996
SWANS HOTEL
Victoria, British Columbia

1994
VERNON GOLF & COUNTRY CLUB
Vernon, British Columbia

Education

University of Victoria, Victoria, BC
Faculty of Business
Bachelor of Commerce, specializing in Tourism Management

University of British Columbia, Vancouver, BC
Diploma-Urban Land Economics Programme

Affiliations

Appraisal Institute of Canada - Member (AACI)
Real Estate Institute of BC - Member (RIBC)
Real Estate Council of Alberta (RECA)

Authored Publications

“Canadian Hotel Transaction Survey,” Canadian Lodging Outlook, 2008-2015
“Hotel Development Trends in Alberta” Alberta Hospitality, Winter 2013
“Hotel Financing Parameters in Canada,” Canadian Lodging Outlook, November 2012
“Back to Peak? A Look at Canadian Hotel Operating Performance: 2008-2011” Colliers International INNvestment Canada, Q1 2012
“State of the Hospitality Industry” Western/Eastern Hotelier Magazine, October 2011
“A Look at the Canadian Lodging Industry in 2011 and Ahead to 2012,” Canadian Lodging Outlook, October 2011
“Who will be the Winners in this Downturn?” Canadian Lodging Outlook, March 2009
“How Does Debt Financing Impact the Value of a Hotel?” Canadian Lodging Outlook, June 2008
“A Crash Course in Cap Rates,” Canadian Lodging Outlook, January 2005
“Have Hotel Values in Canada Declined Since September 11? You Bet They Have” Canadian Lodging Outlook, August 2001
“Does Supply Generate Demand?” Canadian Lodging Outlook, February 2001
“Should You Build a Spa in Your Hotel?” Canadian Lodging Outlook, November 1999
“Winnipeg Downtown Hotel Market,” Canadian Lodging Outlook, July 1999
“Downtown Toronto Hotel Market,” Canadian Lodging Outlook, January 1999
“Franchising – Ready or Not?” InnFocus, Spring 1998
“Another Blockbuster Year For Canadian Hotel Sales,” InnFocus, Winter 1998

Speaking Engagements

Canadian Hotel Investment Conference
Western Canadian Hotel Investment Conference
America Lodging Investment Summit (ALIS)
Appraisal Institute of BC Provincial Conference
Vancouver AM Tourism Association
Hospitality Financial and Technology Professionals (HFTP) Calgary Chapter
BC Assessment Hotel Industry Round Table
Travelodge Canada National Owners Conference
Ramada Regional Owners Conference
University of Calgary
University of Victoria

Clients

0704007 BC (Manish Kumar)
0803275 BC Ltd (Paul Choi)
1002174 BC (Katie Chen)
1339850 Alberta Ltd. (Alim Jessa)
1583432 Alberta (Jas Dugal)
1924977 Alberta Limited (Ajay Patel)
404980 Alberta Ltd. (Karima Suleman)
Aareal Bank
A-1 Hospitality
AHG Thompson
Albert Street Project
Allied Holdings
Amacon
AMC Group
Aquilini Group
Amble Ventures
Amin Suleman
Anoop Sekhon
Archon Financial
Argus Properties
Ariel Development
ASPAC Developments
AUM Hotel Group
Avison Young
AVS Windows
B.A.C. Capital Corp.
Babson Capital Management
Balboa Hotels
Bank of America
Bass Hotels and Resorts
BC Housing Management Commission
Bear Stearns
Best Western International
Bhanji Brothers Investment
Bill Sidhu
Bob’s Mini Mart
Borelli Walsh
Bosa Properties
Braemar Group
Brentwood Bay Lodge Ltd.
Bridge Road Developments
British Pacific Properties
Bruce McPherson
Business Development Bank of Canada
Builders Bank (Chicago)
C & H Developments
Choi & Sons Enterprises
Chongqing Huayu Group
C.S. First Boston
Cadim
Calgary Exhibition and Stampede
Calgary Tourist Development
Canad Inns
Canadian Western Bank
CanAlta Real Estate Services
Capital Co. of America
CapStar Hotel Company
Carlisle Group
Cellcom Wireless
Centron Group
Century Group
Century West Developments
Cervera Real Estate
Charan Rai
Chase Manhattan Bank
Chin Hong
Choi & Han Investment
Choi & Sons Enterprises
CIBC
CIGNA Investments Management
Citifund Capital Corporation
CitiGroup Private Bank
City Centre Group
City of Calgary
City of Penticton
City of Port Townsend, WA
City of St Albert
City of Vancouver
Clifton Blake
Clique Hotels & Resorts
CMLS Financial
CNJ Investment
Coast Hotels & Resorts
Command Developments
Concert Properties
Continental Wingate Capital
Coronado Properties
Corville Group
County of Thorhild
Credit Suisse First Boston
Crystal Square Development Corp.
Daniel Goff
Dawson Creek General Partnership
Days Hospitality
Delcon Development Group
Delta Hotels & Resorts
Delta Land Developments
Delta Whistler Village Suites Strata Council
Desert Inn Osoyoos
Devonian Properties
Diamond Trust
District of Vanderhoof
Diversified Financial
Donaldson, Lefkin & Jenrette
DTZ
Eagle River Hospitality
Eastdil Secured
Ed Bulley
Ed Bhanji
Eddie Teranishi
Elvin Ferster
Encore Hospitality
Estevan Investments
Exchange District Management
Fairmark Investments
Fairmont Hotels and Resorts
Faskin Martineau
Finova Capital Corporation
Finwest Holdings
First Calgary Savings
Focus Hotels
Forebase Victoria Holdings
Frankish Management
Fraser River Consulting
Gardner Company
Gateway Travel Centre
GE Capital Corporation
GE Real Estate Business Property
Genesis Hospitality
Germain Group
GMAC Commercial Mortgage Group
Golden Jubilee Investments
Golden Properties
Good Heart Investment
Gordon Nelson
G. T. Soomal
GJR Management
Greg Bain & Company
Guildford 401 Motel

GWL Realty Advisors
Hallmark Hospitality
Hardy Bains
Harmony Real Estate Ventures
Highgate Holdings
Holloway Lodging REIT
Hollypark Organization
Hotel of the Rockies
HTG Sports Services
Innvest REIT
Inspire Group Development Corporation
Intrawest
Ivanhoé Cambridge
IXIS Real Estate Capital
Jas Chhina
Jassi Holdings
Jean Bourdua
John Beveridge
John Day Developments
John Varga
Johnson Brothers Hospitality
Jordan Hotel Corporation
Karnusa Equities
Kechika Developments
Kent MacPherson Appraisals
Kileel Developments
Kimpton Hotel and Restaurant Group
Klaus Fuerniss
KLIO Real Estate Systems
Kooner Construction
L-7 Inc.
Ladco Company
Lake Tahoe Development Company
Lakeview Hotel REIT
Lakeview Hotels & Resorts
Land Strategies
Lapis Investments
Larco Enterprises
LaSalle Investment Management
Legacy Hotels REIT
Lehman Brothers
Lickman Travel Centre
Liquor Plus
Luxury Hospitality
MacKay Investment Counsel
Mairet Consulting and Management
Manitoba Lotteries Corporation
Mark Treppenhauer
Marquee Hotels
Martie Murphy
Marwest Group
Mayfair Hotels & Resorts
Mayfair Properties
Meridian Hotels
Meridian Resource Accommodations
Merrill Lynch & Company
Meyers Norris Penny
Micro-Tel Inn and Suites
Midwest Developments
MIG Capital
Mission Ventures
Mitchell Group Investments
MLS Management
Moe Sihota
Montrose Mortgage
Morguard Investments
Mountain Pacific Commerical Mortgage
Mutsumi Enterprises Canada
Nanjico
National Hospitality Group
Nations Bank
Naushad Jinah
New Urban Consulting
Nicola Crosby Real Estate
Nishin Kanko Investments
Nitze Stagen
Nor-Sham Group
North Prairie Developments
Nova Builders
Ocwen Capital Corporation
O’Neill Hotels & Resorts
ORIX Real Estate Corporation
Osoyoos Indian Band
Otera Capital
Owens Hospitality Group
Oxford Properties Group
Pacifica Companies
Pacifican Properties
Pacrim Hospitality Services
Palix Foundation
PAN
Paradigm Project Solutions
Paragon Gaming
Pavi Khunkhun
PBA Land Development
Peace Enterprises
Peter Kim
Peterson Investment Group
PHI Hotel Group
Picadilly Development
Pinnacle International
Pomeroy Group
Premier Pacific Group
Primevest Capital Corporation
PPM Finance
Prestige Hospitality
Proprietary Industries
Pure Canadian Gaming
Qiji Investments
Radisson Plaza Saskatchewan
Ramada Coquitlam
Randhawa Hotels
RBI Development
Regency Developments
Remai Group
Remington Development Corporation
Retirement Concepts
Rio Verdre Properties
River Cree Resort
Rockmore Development
Ron Mundi
Royal Bank of Canada
Royal Oak Homes
Royop Hospitality
RSB Hotel Ventures
Rush Ihas Hardwick
Rykon Group
Saliance Global Holdings
Salomon Brothers Realty Corp.
Sam Dhillon
Santo Properties
Scott Cameron
Security Properties
Semiahmoo Company
Serracan
Servus Credit Union
Shelter Canadian Properties
Shinsei Bank
Shirvam Developments
SilverBirch Hotels and Resorts
Silver Hotel Holdings
SITQ
Souris Valley Lodging
Southpeg Hospitality Group
Spirit Ridge Owner’s Association
Starwood Asset Management
Starwood Capital Group
Starwood Financial Trust
State Bank of India
Steinbock Development Corporation
Still Point Properties
Stone Creek Properties
Stone Water Ventures
Summerland Motel
Sunshine Inn Estates
Superior Lodging Group
Symphony Resorts
TC Enterprises
Temple REIT
Teranishi and Associates
TerraCap Group
Terrace Economic Development
The Hollypark Organization
Tony Cary-Barnard
Town of Devon
Trez Capital
Tri City Contracting
Trilogy Development Corporation
Triple One Properties
UMC Financial
Vacations West
Valley First Credit Union
Vancouver Hotel Association
Vern Basnett Consulting
Victor Janzen Law Corp
Vijay Domingo
Vinayak Investments
Walker Hospitality
Wanson Development
Washington Mutual Bank
Wells Fargo
West Canadian Development
West Fraser Developments
West LB
Westbank Holdings
Westmark Hotels
Westmont Hospitality
Westridge Landing
Widewaters Group
William Cole
Windermere Commercial Lands
Yanna Holdings
Yasin Enterprises Ltd.
Yorkton Group International
YQR Ventures Hotels and Resorts
Yuanheng Holdings
Zul Nathoo

Hotels Appraised

Alberta – Existing Hotels
Best Western, Athabasca
Banff Inn, Banff
Douglas Fir Resort, Banff
Rimrock Resort Hotel, Banff
Tunnel Mountain Resort, Banff
Acclaim Hotel, Calgary
Acclaim Hotel Airport, Calgary
Best Western Calgary Suites, Calgary
Best Western Village Park, Calgary
Clique Hotel Expanded, Calgary
Converted Aloft Hotel, Calgary
Delta Bow Valley, Calgary
Fairmont Palliser, Calgary
Four Points Airport, Calgary
Four Points by Sheraton, Calgary
Hampton Inn & Suites, Calgary
Hampton Inn & Suites Airport, Calgary
Hilton Garden Inn, Calgary
Hyatt Regency, Calgary
Holiday Inn, Calgary
International Hotel Suites, Calgary
Le Germain, Calgary
Marriott Downtown, Calgary
Radisson, Calgary
Ramada Downtown, Calgary
Ramada Hotel, Calgary
Residence/Courtyard Airport, Calgary
Stampeder Inn, Calgary
Westin, Calgary
Doubletree Conversion, Canmore
Sheraton Four Points, Canmore
Redwood Inn & Suites, Clairmont
Lakeview Inn & Suites, Drayton Valley
Service Plus, Drayton Valley
Super 8, Drayton Valley
Best Western, Edmonton
Best Western Westwood, Edmonton
Chateau Nova, Edmonton
Coast Hotel, Edmonton
Coast Terrace Inn, Edmonton
Courtyard by Marriott, Edmonton
Crowne Plaza Chateau Lacombe, Edmonton
Days Inn Downtown, Edmonton
Delta South, Edmonton
Four Points Airport, Edmonton
Hilton Garden Inn West, Edmonton
Holiday Inn Convention Ctr, Edmonton
Holiday Inn Express, Edmonton
Holiday Inn West, Edmonton
Holiday Inn Express South, Edmonton
Hotel & Convention Centre, Edmonton
Howard Johnson, Edmonton
Market Study Downtown, Edmonton
Marriott at River Cree, Edmonton
Nova Yellowhead, Edmonton
Quality Inn Chateau, Edmonton
Radisson South, Edmonton
Sutton Place, Edmonton
Westin, Edmonton
Lakeview Inn & Suites, Edson East
Nova Hotel & Court, Edson
Nova Inn, Edson
Advantage West Inn & Suites, Fort McMurray
Best Western Nomad Inn, Fort McMurray
Chateau Nova, Fort McMurray
Clearwater Suite Hotel, Fort McMurray
Franklin Suites Hotel, Fort McMurray
Merit Hotel, Fort McMurray
Merit Inn and Suites, Fort McMurray
Nomad Hotel, Fort McMurray
Nomad Inn and Suites, Fort McMurray
Platinum Hotel, Fort McMurray
Radisson Hotel, Fort McMurray
Super 8, Fort McMurray
Vantage Inn & Suites, Fort McMurray
Best Western Fort Inn, Ft. Saskatchewan
Lakeview Inn & Suites, Ft. Saskatchewan
Lakeview Inn, Fox Creek
Grande Cache Hotel, Grande Cache
Best Western, Grande Prairie
Holiday Inn, Grande Prairie
Holiday Inn Express, Grande Prairie
Motel 6, Grande Prairie
Pomeroy Hotel & Conference Centre, Grande Prairie
Pomeroy Inn and Suites, Grande Prairie
Stonebridge Inn, Grande Prairie
Pomeroy Inn & Suites, Grimshaw
Super 8, High Level
Pomeroy Inn and Suites, High Prairie
Days Inn, Hinton
Nova Inn, Hinton
Nova Lodge, Hinton
Whistler’s Inn, Jasper
BW Kananaskis Inn, Kananaskis
Delta Lodge, Kananaskis
Hilton Garden Inn, Leduc
Coast Hotel & Conference Centre, Lethbridge
Holiday Inn Express, Lethbridge
Lethbridge Lodge Hotel, Lethbridge
BW Wayside Inn & Suites, Lloydminster
Days inn, Lloydminster
Lakeview Inn & Suites, Okotoks
Chateau Nova, Peace River
Nova Hotel, Peace River
Best Western, Red Deer
Capri Hotel, Red Deer
Converted Delta Hotel, Red Deer
Comfort Inn & Suites, Red Deer
Home2, Red Deer
Market Study, Red Deer
Sandman Hotel, Red Deer
Sheraton Inn, Red Deer
Coast Edmonton East, Sherwood Park
Holiday Inn Express, Sherwood Park
Best Western, Slave Lake
Northwest Inn, Slave Lake
Super 8, Three Hills
Pomeroy Inn & Suites, Vegreville
Nova Hotel, Wabasca
Lakeview Inn & Suites, Whitecourt
Nova Inn, Whitecourt
Super 8, Whiteco


Alberta – Proposed Hotels
AmeriHost, Airdrie
Days Inn, Airdrie
Wingate, Airdrie
Microtel, Blackfalds
Limited -Service Hotel, Bonnyville
Microtel, Bonnyville
Best Western, Brooks
Super 8, Brooks
AC Hotel, Calgary
All-Suite Downtown, Calgary
Autograph, Calgary
Best Western Inn & Suites, Calgary
Boutique Hotel, Calgary
Calgary Stampede Hotel, Calgary
Candlewood Suites, Calgary
Candlewood Suites Airport, Calgary
Clique Hotel, Calgary
Courtyard/Autograph, Calgary
Courtyard/TownePlace, Calgary
Courtyard by Marriott, Calgary
Delta, Calgary
Delta Airport, Calgary
Element, Calgary
Element Airport, Calgary
Extended-Stay Hotel, Calgary
Fairfield Inn & Suites, Calgary
Focused-Service Hotel, Calgary
Four Points, Calgary
Four Points Airport, Calgary
Germain Hotel, Calgary
Hampton Airport, Calgary
Hampton, Calgary
Hampton & Homewood, Calgary
Hilton, Calgary
Hilton Airport, Calgary
Hilton Downtown, Calgary
Hilton & Conference Ctr, Calgary
Hilton Garden Inn/Homewood, Calgary
Homewood Airport, Calgary
Hotel Indigo, Calgary
Hotels (2), Calgary
Hotel Airport, Calgary
Hotels (2) South, Calgary
JW Marriott, Calgary
Marriott Airport, Calgary
Microtel, Calgary
Quarry Park Hotel, Calgary
Renaissance Club Sport, Calgary
Residence Inn, Calgary
Residence Inn & Courtyard, Calgary
Select-Service Hotel, Calgary
Stampede Hotel, Calgary
Staybridge Suites, Calgary
Westin Airport, Calgary
Wingate Inn Airport, Calgary
All-Suite Hotel, Canmore
Fairholme Lodge, Canmore
Hotel at SilverTip, Canmore
Malcolm Hotel, Canmore
Super 8, CanmoreSuper 8, Cochrane
Days Inn, Cold Lake
Microtel, Cold Lake
Extended-Stay, Devon
Pomeroy Hotel, Devon
Comfort Inn, Edmonton
Fairfield Inn, Edmonton
Four Points, Edmonton
Four Points/Element, Edmonton
Hampton Inn, Edmonton
Hilton Garden Inn Airport, Edmonton
Homewood South Edmonton
Hotel, Edmonton
Hotel Downtown, Edmonton
Hyatt Place, Edmonton
Limited-Service, Edmonton
Marriott, Edmonton
Nova Inn, Edmonton
Pomeroy Inn, Edmonton
Staybridge Suites, Edmonton
Renaissance Clubsport Windermere, Edmonton
Hotel, Estevan
Pomeroy Inn and Suites, Fairview
Clearwater Timberlea, Fort McMurray
Dual-Brand Hotel, Fort McMurray
JMarc Hotel, Fort McMurray
Hilton Gardent Inn, Fort McMurray
Holiday Inn, Fort McMurray
Microtel, Fort McMurray
Nova Inn, Fort McMurray
Residence Inn, Fort McMurray
Holiday Inn Express, Fort Saskatchewan
Hotel, Fort Saskatchewan
Super 8, Fort Saskatchewan
AmeriHost, Grande Prairie
Boutique Hotel, Grande Prairie
Four Points, Grande Prairie
Hampton Inn & Suites, Grande Prairie
Home2, Grande Prairie
Hotel, Grande Prairie
Limited- Service, Grande Prairie
Motel 6, Grande Prairie
Pomeroy Inn & Suites, Grimshaw
Hotel, Invermere
Microtel, Lac La Biche
Best Western, Lacombe
Comfort Suites, Leduc
Courtyard by Marriott, Leduc
Hampton Inn, Leduc
Hotel, Leduc
Microtel, Leduc
Hilton Garden Inn, Lethbridge
Holiday Inn & Suites, Lethbridge
Hotel, Lethbridge
Microtel, Lethbridge
Comfort Inn & Suites, Lloydminster
Microtel, Lloydminster
Super 8, Lloydminster
Nova Inn, Manning
Extended-Stay, Medicine Hat
Hampton Inn & Suites, Medicine Hat
Holiday Inn, Medicine Hat
Home2, Medicine Hat
Pomeroy Inn, Olds
Super 8, Oyen
Hotel, Redwater
Microtel, Peace River
Nova Inn, Peace River
Ramada, Pincher Creek
Super 8, Ponoka
Hotel, Red Deer
Microtel, Red Deer
Super 8, Red Deer
TownePlace Suites, Red Deer
Extended-Stay, Sherwood Park
Home2, Sherwood, Park
Microtel, Sherwood Park
TownePlace Suites, Sherwood Park
Super 8, Slave Lake
Fairfield, St. Albert
Hotel, St Albert
Wingate, St. Albert
Microtel, St. Paul
Ramada, Stettler
Holiday Inn Express, Strathmore
Hotel, Thorhild
Best Western, Valleyview
Economy Hotel, Vegreville
Pomeroy Inn & Suites, Vegreville
Canalta, Vermilion
Pomeroy Inn & Suites, Vermilion
Canalta, Vulcan
Best Western, Wainwright
Microtel, Whitecourt


British Columbia – Existing Hotels
Hills Health Ranch, 108 Mile Ranch
Holiday Inn Express, Abbotsford
Ramada Plaza, Abbotsford
BayCrystal Square Hilton, Burnaby
Sunshine Inn, Burns Lake
Coast Discovery Inn, Campbell River
Pomeroy Inn & Suites, Chetwynd
BW Rainbow Country Inn, Chilliwack
Comfort Inn, Chilliwack
Comfort Inn Expanded, Chilliwack
Best Western Chelsea, Coquitlam
Ramada, Coquitlam
Best Western, Dawson Creek
Days Inn, Dawson Creek
Holiday Inn Express, Dawson Creek
George Dawson Inn, Dawson Creek
Pomeroy Inn & Suites, Dawson Creek
Stonebridge, Dawson Creek,
Super 8, Fort Nelson
Holiday Inn Express, Fort St. John
Lakeview Inn & Suites, Fort St. John
Pomeroy Hotel & Conference Centre, Fort St. John
Pomeroy Inn & Suites, Fort St. John
Stonebridge Hotel, Fort St. John
Super 8, Fort St. John
Rockwater Secret Cove, Half Moon Bay
Resort and Spa, Harrison Hot Springs
Sunshine Inn, Houston
Best Western Towne Lodge, Kamloops
Hotel 540, Kamloops
The Thompson Hotel, Kamloops
Delta Grand Okanagan Resort, Kelowna
Holiday Inn West, Kelowna
Hotel Eldorado, Kelowna
Manteo Resort, Kelowna
Sheraton Four Points, Langford
Best Western Langley Inn, Langley
Holiday Inn Express, Langley
Best Western Dorchester, Nanaimo
Schooner Cover Hotel, Nanoose Bay
Inn at Westminster Quay, New Westminster
Moutcha Bay Resort, Nootka Sound
Newton Cove Lodge, Nootka Sound
Nootka Sound Resort, Nootka Sound
Pinnacle Hotel, North Vancouver
Desert Inn, Osoyoos
Spirit Ridge Vineyard Resort, Osoyoos
Super 8, Osoyoos
Poets Cove, Pender Island
Woods on Pender, Pender Island
Ramada Inn & Suites, Penticton
Travelodge, Penticton
Best Western, Prince George
Coast Hotel, Prince George
Days Inn, Prince George
Four Points, Prince George
Treasure Cove Hotel, Prince George
Qualicum Heritage Inn, Qualicum Beach
Days Inn, Richmond
Expanded Holiday Inn Express Riverport, Richmond
Radisson Hotel, Richmond
Sooke Harbour House, Sooke
Holiday Inn Express, Squamish
Sunshine Inn, Smithers
Guildford Inn and Suites, Surrey
Holiday Inn Cloverdale, Surrey
Ramada Guildford, Surrey
Sandman Suites Guildford, Surrey
Ocean Village Resort, Tofino
Pacific Sands Beach Resort, Tofino
Best Western Plus Downtown, Vancouver
Best Western Sands, Vancouver
Biltmore Hotel, Vancouver
Coast Plaza, Vancouver
Comfort Inn Airport, Vancouver
Crowne Plaza Hotel Georgia, Vancouver
Days Inn, Vancouver
Days Inn Downtown, Vancouver
Delta Airport, Vancouver
Delta Pinnacle Hotel, Vancouver
Delta Vancouver Suites, Vancouver
Fairmont, Vancouver
Fairmont Waterfront, Vancouver
Four Points by Sheraton, Vancouver
Georgian Court, Vancouver
Hampton Inn & Suites, Vancouver
Holiday Inn Airport, Vancouver
Holiday Inn Express Airport, Vancouver
Hotel Blu, Vancouver
Hotel Georgia, Vancouver
Hotel Georgia Asset Management
Howard Johnson Plaza Hotel, Vancouver
Market Study, Metro Vancouver
Marriott Pinnacle, Vancouver
Opus Hotel, Vancouver
Pacific Palisades, Vancouver
Pan Pacific Hotel, Vancouver
Park inn & Suites, Vancouver
ParkHill Hotel, Vancouver
Quality Inn Airport, Vancouver
Radisson Airport, Vancouver
Ramada Airport, Vancouver
Ramada Downtown, Vancouver
Ramada Hotel, Vancouver 
Ramada Kingsway, Vancouver
Renaissance Harbourside, Vancouver
Riviera on Robson, Vancouver
Sandman Airport, Vancouver
Shangri-La, Vancouver
Super 8, Vancouver
Sutton Place, Vancouver
The Opus Hotel, Vancouver
Travelodge Hotel Airport, Vancouver
Westin Bayshore, Vancouver
Westin Grand, Vancouver
Sparking Hill Resort, Vernon
Best Western Carlton Plaza, Victoria
Brentwood Bay Lodge & Spa, Victoria
Converted Holiday Inn, Victoria
Days Inn Waterway, Victoria
Delta Ocean Pointe, Victoria
EconoLodge, Victoria
Fairmont Empress, Victoria
Harbour Towers, Victoria
Market Study, Victoria
Oak Bay Beach Hotel, Victoria
Quality Inn, Victoria
Parkside Victoria Resort & Spa, Victoria
Holiday Inn, Westbank
Coast Whistler Resort, Whistler
Delta Whistler Village Suites, Whistler
RevPar Collection, Whistler
Whistler Fairways, Whistler
Ramada, Williams Lake


British Columbia – Proposed Hotels
Hampton Inn & Suites, Abbotsford
Hotel, Abbotsford
Hotel, Agassiz
Courtyard Hotel, Burnaby
Crystal Square Hilton, Burnaby
Element, Burnaby
Hotel, Burnaby
Super 8, Chemainus
Pomeroy Inn and Suites, Chetwynd
Super 8, Coquitlam
Holiday Inn Express, Colwood
Holiday Inn Express, Courtenay
Super 8, Courtenay
Best Western, Dawson Creek
Best Western Plus, Dawson Creek
Four Points, Dawson Creek
Holiday Inn Express, Dawson Creek
Super 8, Dawson Creek
Western Discovery Inn & Suites, Dawson Creek
Hotel, Fernie
Super 8, Fort Nelson
Hotel, Fort St James
Limited-Service, Fort St. James
Best Western Plus, Fort St. John
Casino Hotel, Fort St. John
Four Points, Fort St. John
Hampton Inn, Fort St. John
Holiday Inn Express, Fort St John
Home2 Suites, Fort St. John
Hotel, Fort St. John
Microtel, Fort St John
Pomeroy Hotel and Casino, Fort St. John
TownePlace, Fort St. John
Salt Spring Island Wellness Retreat, Ganges
George Hotel, Gibsons
Holiday Inn, Golden
Delta, Harrison Hot Springs
Days Inn, Hudson's Hope
Still Water Inn & Suites, Hudson’s Hope
Hampton Inn, Kamloops
Limited-Service, Kamloops
Park Inn Hotel, Kamloops
Courtyard, Kelowna
Hampton Inn, Kelowna
Hilton, Kelowna
Holiday Inn, West Kelowna
TownePlace, Kelowna
Microtel, Kitimat
Microtel, Ladysmith
Four Points, Langford
Quality Inn, Langley
Super 8, Langley
Best Western Plus/Conference, Merritt
Comfort Inn & Suites, Merritt
Limited-Service, Merritt
Hotel, New Westminster
Hotel, Oliver
Convention Facilities, Panorama
Boutique Hotel, Penticton
Hotel, Penticton
Wilderness Lodge, Port Renfrew
Microtel, Prince George
Alt, Richmond
Holiday Inn Express, Richmond
Homewood Suites, Richmond
Hotel, Richmond
Hotel Study, Richmond
Hotel Versante, Richmond
Red Mountain Resort, Rossland
Hotel, Salmon Arm
Resort & Spa, Sechelt
Squamish Resort, Squamish
Super 8, Squamish
Summerland Motel, Summerland
Civic Hotel, Surrey
Hampton, Surrey
Holiday Inn Express, Surrey
Super 8, Surrey
Limited-Service, Terrace
Microtel, Terrace
Sunshine Inn, Terrace
Super 8, Terrace
Hotel, Tsawout First Nation
Coast Hotel, Tsawwassen
Boutique Hotel, Vancouver
Crystal Blu, Vancouver
Fairmont Convention Centre, Vancouver
Fairmont Hotel, Vancouver
Hilton Downtown, Vancouver
JW Marriott & Autograph Hotels, Vancouver
Lifestyle Hotel Downtown, Vancouver
Marriott Convention Centre, Vancouver
Opus, Vancouver
Radisson Hotel, Vancouver
Regent Hotel, Vancouver
Yaletown Hotel, Vancouver
Hotel, Vanderhoof
Castle on Swan Lake, Vernon
Fairfield Inn & Suites, Vernon
Holiday Inn Express, Vernon
Pomeroy Inn & Suites, Vernon
DoubleTree, Victoria
Marriott, Victoria
Royal Victoria Hotel, Victoria
Sheraton Four Points, Victoria
Hotel, West Vancouver
Super 8, Westbank


Manitoba
Proposed Holiday Inn Express, Brandon
Royal Oak Inn, Brandon
Victoria Inn, Brandon
Victoria Inn, Flin Flon
Proposed Super 8 , Portage La Prairie
Proposed Hotel, Reston
Proposed Best Western, Thompson
Proposed Super 8, Thompson
Best Western International Inn, Winnipeg
Best Western Pembina Inn & Suites, Winnipeg
Canad Inns Garden City, Winnipeg
Canad Inns Polo Park, Winnipeg
Canad Inns Windsor Park, Winnipeg
Fairmont, Winnipeg
Four Points by Sheraton, Winnipeg
Holiday Inn Airport West, Winnipeg
Holiday Inn South, Winnipeg
MainStay Suites, Winnipeg
Proposed Best Western, Winnipeg
Proposed Hampton, Winnipeg
Proposed Hotels (2), Winnipeg
Proposed Hotel Downtown, Winnipeg
Proposed Four Points by Sheraton, Winnipeg
Proposed Hilton Garden Inn, Winnipeg
Proposed Microtel, Winnipeg
Proposed Porter Hotel, Winnipeg
Proposed Super 8, Winnipeg
Radisson, Winnipeg
Victoria Inn, Winnipeg


New Brunswick
Lakeview Inn & Suites, Fredericton
Sheraton Hotel, Fredericton
Proposed Hotel, Moncton
Proposed Super 8, Moncton
Proposed Super 8, Quispamsis
Proposed Super 8, St. John
Proposed Super 8, St. Stephen


Northwest Territories
Capital Suites, Yellowknife
Chateau Nova and Nova Suites, Yellowknife
Days Inn & Suites, Yellowknife
Nova Court, Yellowknife
Proposed Chateau Nova, Yellowknife
Proposed Limited-Service, Yellowknife
Quality Inn & Suites, Yellowknife


Nova Scotia
Proposed Super 8, Bedford
Holiday Inn Harbourview, Dartmouth
Cambridge Suites, Halifax
Prince George, Halifax
Proposed Hotel, Halifax
Cambridge Suites, Sydney


Ontario
Proposed Courtyard by Marriott, Hamilton
Proposed Hotel Kingston
Ramada Inn, London
Radisson, Markham
Holiday Inn, Mississauga
Proposed Super 8, Napanee
Marriott, Ottawa
Westin, Ottawa
Best Western Inn on the Bay, Owen Sound
Quality Inn, Peterborough
Victoria Inn, Thunder Bay
Fairmont Royal York, Toronto
Inn on the Park, Toronto
Marriott Bloor Yorkville, Toronto
Super 8 North, Toronto
Travelodge, Toronto Airport
Westin Harbour Castle, Toronto


Quebec
Radisson Hotel, Longueil
Chateau Royal, Montreal
Hilton Montréal Bonaventure, Montreal
Hotel Complexe Des Jardins, Montreal
Opus, Montreal
Proposed Boutique Hotel, Montreal
Proposed Microtel Inn & Suites, Montreal
Proposed Super 8, Montreal
Proposed Westin, Montreal
Springhill Suites, Montreal
Holiday Inn Airport West, Pointe-Claire


Saskatchewan
Western Star, Carlyle
Proposed Western Star, Carnduff
Western Star, Esterhazy
Best Western Plus, Estevan
Derrick Motor Hotel Expansion, Estevan
Suburban Expansion, Estevan
Proposed Extended-Stay, Estevan
Proposed Sigma Inn, Estevan
Proposed Work Camp, Estevan
Kindersley Inn, Kindersley
Nova Inn, Kindersley
Proposed Best Western Plus, Kindersley
Proposed Extended-Stay, Kindersley
Proposed Holiday Inn Express, Kindersley
Proposed Microtel, Kindersley
Proposed Motel 6, Kindersley
Proposed Suburban Exended-Stay, Kindersley
Super 8, Kindersley
Proposed Canalta, Martensville
Proposed Super 8, Melfort
Proposed Western Star, Melita
Proposed Sigma Inn & Suites, Melville
Proposed Ramada, Moose Jaw
Proposed Suburban Extended-Stay, Moosejaw
Proposed Best Western Plus, Moosomin
Proposed Best Western, North Battleford
Proposed Holiday Inn Express, North Battleford
Proposed Best Western, Prince Albert
Proposed Super 8, Prince Albert
Western Star, Redvers
Hampton Inn & Suites, Regina
Hotel Saskatchewan, Regina
Proposed All-Suite Hotel, Regina
Proposed ALT, Regina
Proposed Best Western Regina
Proposed Fairfield Inn, Regina
Proposed Hampton, Regina
Proposed Hotel, Regina
Proposed Limited-Service, Regina
Proposed Microtel, Regina
Radisson Plaza Hotel, Regina
Super 8, Regina
Wingate Inn, Regina
Days Inn, Saskatoon
Delta Bessborough, Saskatoon
Hampton Inn Airport, Saskatoon
Proposed Best Western, Saskatoon
Proposed Courtyard, Saskatoon
Proposed Hampton Inn, Saskatoon
Proposed Hotel Downtown, Saskatoon
Proposed MainStay, Saskatoon
Proposed Residence Inn, Saskatoon
Proposed Sleep Inn, Saskatoon
Proposed TownePlace Suites, Saskatoon
Radisson, Saskatoon
Sandman Hotel, Saskatoon
Saskatoon Inn Hotel & Conference Ctr., Saskatoon
Western Star, Stoughton
Proposed Full-Service, Swift Current
Proposed Motel 6, Swift Current
Proposed Motel 6, Tisdale
Proposed Microtel, Weyburn
Proposed Suburban Lodge, Weyburn


Yukon
Proposed Super 8, Whitehorse
Westmark, Whitehorse
Whitehorse Hotel & Conference Ctr, Whitehorse 


USA – Existing Hotels
The Fairmont Princess, Scottsdale, AZ
Embassy Suites, South Lake Tahoe, CA
Holiday Inn Airport, Long Beach, CA
Residence Inn, San Diego, CA
DoubleTree Riverside, Boise, ID
Grove Hotel, Boise
Best Western Inn and Suites, Caldwell, ID
Best Western Foothills Motor Inn, Mountain Home, ID
Hampton Inn & Suites, Mountain Home
Sleep Inn, Mountain Home, ID
Sheraton Suites, Chicago O’Hare, IL
Super 8, Hazard, KY
Sheraton Suites, Lexington, KY
Club Hotel by Doubletree, Louisville, KY
Super 8, Prestonsburg, KY
Comfort Inn, Danvers, MA
Comfort Suites, Haverhill, MA
Mainstay Suites, Peabody, MA
Annapolis Marriott, Annapolis, MD
Doubletree Hotel, Rockville, MD
Doubletree, Minneapolis, MN
Kahler Grand, Rochester, MN
Valley River Inn, Eugene, OR
Hilton Garden Inn, Lake Oswego, OR
5th Avenue Suites, Portland, OR
Hotel Vintage Plaza, Portland, OR
Marriott Downtown, Portland, OR
Embassy Suites, Tigard, OR
Holiday Inn, Wilsonville, OR
Wyndham Anatole, Dallas, TX
Comfort Inn, Springfield, VA
Hampton Inn, Springfield, VA
Bellevue Hilton, Bellevue, WA
Candlewood Suites, Bellevue, WA
Larkspur Landing, Bellevue, WA
Residence Inn, Bellevue, WA
Residence Inn, Bellevue, WA
Embassy Suites, Lynnwood, WA
Residence Inn, Lynnwood, WA
BW College Way Inn, Mt. Vernon, WA
Holiday Inn Express, Port Orchard, WA
Larkspur Landing, Renton, WA
Fairmont Olympic, Seattle, WA
Four Seasons Olympic, Seattle, WA
Hilton, Seattle, WA
Inn at the Market, Seattle, WA
Paramount Hotel, Seattle, WA
SpringHill Suites, Seattle, WA
Summerfield Suites, Seattle, WA
Inn at Semi-Ah-Moo, Semi-Ah-Moo, WA


USA – Proposed Hotels
Hotel and Convention Center, South Lake Tahoe, CA
Hampton Inn and Suites, Red Bluff, CA
Embassy Suites, Boise, ID
Hilton Garden Inn, Boise, ID
Waterpark Market Study, Boise
Summerfield Suites, Overland Park, KS
Hotel, Kalispell, MT
Hotel, Blaine, WA
Regional Conf. Centre Analysis, Port Townsend, WA
Boutique Hotel, Seattle, WA
Union Station Hotel, Seattle, WA
Hotel, Silverdale, WA
Davenport Sheraton, Spokane, WA
Convention Center Hotel, Tacoma, WA


Bermuda
Proposed Eco-Tents

Press Coverage

Some hotels could pivot to multi-family rentals, 2020
Hotel industry still struggling to improve occupancy rates, 2020
Province pays $18.5 million to buy hotel for homeless, 2020
B.C. hotel industry sideswiped by virus outbreak, 2020
Province’s hotel industry cratered by virus, 2020
British Columbia's hotel industry cratered by virus, 2020
B.C. hotel activity stays strong as the sector languishes in Alberta. Revenue slows but still grows in tourism-heavy B.C., while oil-hit Alberta struggles to fill rooms, 2019

My Articles

2019 Canadian Hotel Lending Survey

HVS reviewed and analyzed the current lending environment for hotels following a comprehensive survey conducted among Canadian hotel lenders.

• June 19, 2019 By Shu Lin (Sharon) Liu , Carrie Russell

• Hotel Investments & Ownership , Lending , Asset Management , Development & Construction , Valuations & Market Studies , North America , Canada

How to Add Value to Your Hotel Asset

Although it may seem that a hotel’s value is fixed and determined solely by external forces, in actuality there are hundreds of opportunities to make adjustments that result in value enhancements.

• May 16, 2019 By Carrie Russell

HVS Canadian Hotel Development Cost Survey 2018

Each year, HVS researches and compiles development costs from our database of actual hotel construction budgets. This source now provides the basis for our illustrated total development costs per room/per product type.

• March 15, 2018 By Carrie Russell , Tom Beckett , Lily Li

• Development & Construction , Economic Trends and Cycles , North America , Canada

Canadian Lodging Outlook December 2012

2012 Canadian Hotel Transaction Survey

• January 31, 2013 By Carrie Russell

Canadian Monthly Lodging Outlook November, 2012

Hotel Financing Parameters in Canada

• January 9, 2013 By Carrie Russell , Stefania D'Antonio

• Lending , North America , Canada

Canadian Lodging Outlook December 2011

2011 Canadian Hotel Transaction Survey

• January 27, 2012 By Carrie Russell

Canadian Monthly Lodging Outlook October, 2011

It is the time of year when many in our industry are looking ahead to determine what the year to come is going to look like...

• November 29, 2011 By Carrie Russell

Canadian Lodging Outlook November 2009

2009 Canadian Hotel Transaction Survey

• January 21, 2010 By Carrie Russell , Jason Wight

• Valuations & Market Studies , Brokerage & Transactions , North America

Canadian Lodging Outlook March 2009

Who will be the Winners in this Downturn?

• May 18, 2009 By Carrie Russell

• Valuations & Market Studies , Economic Trends and Cycles , Hotels - Distressed , North America

Canadian Lodging Outlook November 2008

2008 Canadian Hotel Transaction Survey

• January 23, 2009 By Jason Wight , Carrie Russell

• Valuations & Market Studies , Brokerage & Transactions , Economic Trends and Cycles , North America

Canadian Lodging Outlook June 2008

How Does Debt Financing Impact the Value of a Hotel?

• August 14, 2008 By Carrie Russell

• Lending , Valuations & Market Studies , North America

Canadian Lodging Outlook November 2007

2007 Canadian Hotel Transaction Survey

• February 6, 2008 By Carrie Russell , Vi Thi Dang

• Valuations & Market Studies , Brokerage & Transactions , Economic Trends and Cycles , North America

Canadian Lodging Outlook November 2006

2006 Canadian Hotel Transaction Survey

• January 19, 2007 By Carrie Russell

• Valuations & Market Studies , Economic Trends and Cycles , North America

Canadian Lodging Outlook January 2005

A Crash Course In Cap Rates

• March 7, 2005 By Carrie Russell , Ian D Ricci

• Hotel Investments & Ownership , Valuations & Market Studies , Brokerage & Transactions , North America

Canadian Lodging Outlook February 2001

Does supply generate demand?

• June 5, 2003 By Carrie Russell

• Valuations & Market Studies , North America