Thompson Okanagan Hotel Motel Inn Real Estate Appraiser Realtor

Thompson Okanagan Hotel, Motel & Inn Real Estate Appraiser and Consultant

Bryce Witherspoon, BA, AACI, P. App
E-mail: [email protected]
Address: 129 Nanaimo Ave W, Penticton, BC

Thompson Okanagan Hotel, Motel & Inn Services

Hotel, Motel & Inn Real Estate Appraisals are my flagship service. Every year I have the pleasure of visiting hotels, motels & Inns across British Columbia for the purpose of completing commercial real estate appraisals.

These unique businesses require a unique solution when it comes time to sell. My “Business Exit Solution”  provides a variety of tools to professionally sell a Hotel, Motel or Inn in the most efficient, cost effective way.

Economics and research service that provides analysis and research services on the lodging industry. My work helps clients make strategic decisions, evaluate programs and business alternatives and determine economic and financial contributions.

Thompson Okanagan Hotel, Motel & Inn Industry Overview

Top Markets

BC residents make up the largest share of overnight visitation (61%) and spending (44%) in the Thompson Okanagan region. Alberta residents make up the second largest share of overnight visitation (19%) and spending (28%).

Accommodation Trends

As of 2019, there are approximately 400 active hotel, motel & inn properties in the region. Half of BC residents and more than a third of other Canadians visiting the Thompson Okanagan region stayed with friends and family. The most popular accommodation for international visitors was staying with friends and family, followed by hotels.

Thompson Okanagan Hotel Motel Inn Appraiser
  • Kelowna and Kamloops are the most visited destinations in the Thompson Okanagan and also contribute over 50% of room revenue receipts.
  • Penticton is a popular beachside community. The two other communities in the region which have experienced the strongest revenue growth are Oliver/Okanagan Falls and Osoyoos.
  • Motels earn a higher proportion of room revenue in the Thompson Okanagan than in other B.C. tourism regions. There are few very large hotels (+250 rooms) in this region.

Thompson Okanagan Hotel, Motel & Inn Industry Articles and Publications

Sample Thompson Okanagan Hotel, Motel & Inn Sale Capitalization Rates

The following list reflects capitalization rates for Thompson Okanagan hotels, motels & inns that have been derived from recent sales in my extensive transaction database.

Capitalization Rate = Net Income / Sale Price

Because lodging facilities are income-producing properties that are normally bought and sold on the basis of capitalization of their anticipated stabilized earning power, often the greatest weight is given to the value indicated by the income capitalization approach.

Estimate of Market Value = Net Income / Capitalization Rate

Sample Thompson Okanagan Hotel, Motel & Inn Sale Prices Per Room

Another way that hotels, motels & inns are commonly valued is the sales comparison approach which uses actual sales of similar properties to provide an indication of the subject property’s value.

The following sample of lodging property sales in the Thompson Okanagan region will help you develop a broad value range for your hotel, motel or inn:

The sales outlined above indicate a value range of $37,000 to $303,700 per available room. Several adjustments will be necessary to render these sales prices applicable to your property. The adjustments, which tend to be subjective, diminish the reliability of the sales comparison approach; furthermore, typical hotel investors employ a sales comparison procedure only to establish broad value parameters.

Thompson Okanagan Hotel, Motel & Industry Research Reports

Since the formulation of the previous Penticton Destination Marketing Strategy in 2010, Tourism Penticton and the Penticton Hospitality Association (PHA) have worked independently to promote our region and during that time tourism has experienced a steady growth.

Tourism is a major economic generator for the City of Kelowna and its surrounding municipalities and region. Tourism contributes directly to employment and economic growth in the region through the ongoing operations and activities of different firms that serve tourists.

The Destination Osoyoos Business Plan has been developed through a combination of review of the previous five-year business plan which was developed in 2017 for our 2018 MRDT renewal.

This profile provides an overview of the region and summarizes the latest data available about overnight travellers visiting the Thompson Okanagan.

The Thompson Okanagan Tourism Association is actively monitoring the impact of COVID-19 on the tourism industry through our partnerships with the BC Regional Tourism Secretariat and the British Columbia Hotel Association

This report summarizes key highlights for the Thompson Okanagan (TOTA) region taken from the British Columbia In-Market study conducted in November 2011 and April 2012. A full report on the findings, plus summaries of the other BC tourism regions are available under separate covers.

Education, Affiliations and Volunteer Activities

Frontier Hospitality Advisor is an Okanagan based hotel, motel & inn appraisal service. I specialize in appraising Thompson Okanagan Hotels, Motels & Inns for refinancing or purchase financing, foreclosure or power of sale, divorce or settlement, purchase or sale considerations, legal purposes, estate & retirement planning.

Bryce Witherspoon obtained a Bachelor of Business Administration degree from Lakehead University in Thunder Bay, Ontario. He is an AACI, P. App Designated Member of the Appraisal Institute of Canada.

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This article has been prepared by Frontier Hospitality Advisor for general information only. Frontier Hospitality Advisor makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Frontier Hospitality Advisor excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this article and excludes all liability for loss and damages arising there from.