Real estate, legal and financial services providers are rallying to support the Canadian hotel industry

Canadian hotel industry draws troubleshooters

Thursday, April 2, 2020

Real estate, legal and financial services providers to the Canadian hotel industry have come together to support the sector through the COVID-19 crisis. The nine founding members of the new Canadian Hotel Advisor Collective (CHAC) see a role for themselves as advocates, troubleshooters and a well-connected communication channel for industry stakeholders and potential procurers of hotel space.

“The industry itself has been devastated; there is no question,” says Bill Stone, executive vice president of CBRE Hotels and a CHAC founder. “It will come back, no question, but in the interim there are challenges to face.”

To begin, CHAC is preparing informational webinars to be broadcast on a recurring basis, and launching a website to offer a portal to resources, updates on industry-specific developments and a platform for communication to and among hotel providers and affiliated services. The collective is also working closely with the Hotel Association of Canada, and drawing on its various networks to help connect with the agencies now beginning to procure space for self-isolation facilities and alternative health care sites.

“Municipalities, hospitals and governments, generally, are trying to sort out accommodation needs,” Stone reports. “We are trying to disseminate information and are reaching out to everyone from associations to municipalities to the hotel providers.”

Currently, his conventional tasks in brokerage services are largely on hold. “Right now, we are in a no-bid market. We are not marketing assets,” Stone reiterates.

Along with CBRE Hotels, CHAC members include: Colliers Hotels; Cushman & Wakefield; JLL; the consulting firm HVS; CFO Capital; Blake, Cassels & Graydon LLP; Cassels, Brock & Blackwell LLP; and industry event producer Big Picture Conferences.

“The collective came together quite quickly,” Stone affirms. “We’ve all placed a priority on helping the industry and our clients, and I think we are all pleased to be working together on this.”

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