>Recession puts curb on investing in Canadian hotels

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>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. At the height of the market in 2007, there was $4.58-billion in activity.
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