2014 canadian hotel transaction survey

FEBRUARY 5, 2015
2014 CANADIAN HOTEL
TRANSACTION SURVEY
Aaron Laurie
Research Assistant
Carrie Russell, AACI, MAI
Managing Director
www.hvs.com
HVS IN CANADA | 6 Victoria Street, Toronto, ON M5E 1L4, CANADA
| Suite 400 – 145 West 17th Street, North Vancouver, BC V7M 3G4, CANADA
2014 Canadian Hotel Transaction Survey
Transaction activity within the Canadian lodging
industry is estimated to have totaled an impressive
$1.5 billion in 2014, which is well above the 20-year
historical average although not to the $2.0 billion level
reached in 2013 which was marked with big ticket
portfolio transactions. The country was witness to 129
hotel transactions in 2014, which is in line with the
130 transactions that took place in 2013. In total, an
estimated 16,455 rooms transacted at an average
price per room of $92,000 in 2014.
Noteworthy Participants
Notable Transactions
InnVest REIT was not only the top vendor but also the
most active buyer in terms of acquisition value in
2014. The company’s two hotel purchases—the 1,363room Fairmont Royal York and the 644-room Hyatt
Regency Vancouver—put the company well ahead of
the pack. InnVest purchased both assets for a total
trade value of $326.5 million, or $162,681 per room.
Five hotels sold for more than $50 million in 2014.
Together, these five hotels sold for $562.5 million,
which represents 37% of the country’s total price
volume. The largest transaction was the iconic 1,363room Fairmont Royal York Hotel in downtown
Toronto. InnVest REIT and KingSett Capital agreed to
purchase an 80% share in the hotel for $186.5 million;
the remaining 20% share is held by the property’s
previous majority shareholder, Ivanhoé Cambridge.
InnVest REIT remained the most active vendor in
2014, having sold 20 hotels comprising 2,578 rooms.
Of these sales, 13 were Comfort Inns, including a 277room, three-property portfolio sale. The remaining
properties include two Quality hotels, a Holiday Inn,
and three Delta hotels―the 200-room Delta
Barrington, the 296-room Delta Halifax, and the 296room Delta Calgary Airport. The total price volume
from these assets is estimated to be $131 million.
By number of properties, Temple REIT was the most
active buyer in 2014. The company acquired seven
hotel assets dispersed across the country,
representing 828 hotel rooms. Temple’s total hotel
investment for the year was $149.6 million, which
averages out to $180,711 per room. Temple acquired
assets in array of regions, including the 106-room
Nova Court in Yellowknife, which is the company’s
second hotel in that city. Temple’s largest purchase of
2014 was the 224-room Radisson Plaza Saskatchewan,
which traded for $32.8 million at an estimated cap rate
of 11.5%. The Radisson is Temple’s fourth property in
Saskatchewan.
Regional Transaction Activity
The Clearwater Residence Hotel Timberlea in Fort
McMurray sold with the highest price per room in the
country in 2014. This hotel has transacted at a high
value in the past, as it also sold with the highest price
per room in the country in 2012. In 2014, Temple
REIT purchased this 57-room property for $456,140
per room with a cap rate of 8.2%.
Looking at the regional distribution of transactions,
Ontario led not only Central Canada but also the
country as a whole in sales activity in 2014. The
province experienced 46 hotel transactions that
traded at an average price per room of $94,963. The
price volume equated to $631.3 million, which is well
below the volume of $1 billion in 2013 that was
generated from the sales of large assets in the
downtown Toronto market. The majority of Ontario’s
2014 CANADIAN HOTEL TRANSACTION SURVEY – | PAGE 2
hotel sales took place outside the Greater Toronto
Area (GTA), but hotel investment in the GTA
nevertheless generated $408.4 million, which
represents nearly 27% of the country’s total price
volume.
Quebec ranked fourth in price volume among the
provinces in 2014, having generated $136.6 million. Of
this volume, the most significant sale was the 488room Holiday Inn Midtown Montreal, which was
purchased through a joint venture between Campus
Crest and Beaumont Partners SA for $65 million. The
hotel has since been converted into a student
residence building.
British Columbia led Western Canada in transaction
activity in 2014. From 24 hotel sales representing a
price volume of $328.2 million in 2013, the number of
hotel sales in the province jumped to 35 in 2014,
resulting in a higher price volume of $356.4 million.
The average price per room for a hotel transaction in
British Columbia in 2014 was $121,749; however, BC
was home to the transaction with the second highest
price per room in the country: the 53-room Hotel
Eldorado Kelowna, which sold at $371,698 per room.
Argus Properties purchased this Lakeside Hotel at a
7.5% cap rate.
Historically, Vancouver and its surrounding cities have
boasted some of the lowest cap rates in the country.
This trend persisted in the transactions that occurred
in 2014, when cap rates ranged from 1.2% in the
downtown Vancouver market to 4.2% in Surrey.
Alberta saw a dip in transaction volume in 2014. The
price volume fell from $530.2 million in 2013 to
$273.3 million in 2014, and the transaction price per
room fell from $153,600 to $105,437. Alberta’s largest
transaction was the Courtyard & Residence Inn by
Marriott Calgary Airport, which the Remai Group
purchased for $66 million at a cap rate of 7.4%. This
property traded at a price substantially below
Alberta’s largest sale in 2013, the 525-room Westin
Calgary, which had traded at $192 million.
2014 CANADIAN HOTEL TRANSACTION SURVEY – | PAGE 3
Summation and Outlook
Canada saw a high level of investment activity in 2014.
The number of transactions was in line with what took
place in 2013, but the price volume was lower without
the big-ticket portfolio transactions that had taken
place in 2013. Nevertheless, the investment volume
for 2014 was significantly higher than the rolling fiveyear average of $1 billion, which is indicative of a
strong hotel sector where buyers and sellers can come
to mutual agreements, supported by lenders who are
leaving the door open for increased financing and
trade activity.
Looking forward into 2015, there are a number of
significant transactions that are in the pipeline for the
first quarter of the year. On this basis, the outlook for
the year’s transaction volume is positive; however, the
sharp decline in oil prices is likely to have a negative
impact on GDP growth in Canada, with Alberta being
the hardest hit. These circumstances may result in
caution among buyers, while sellers may not have
adjusted their expectations on asset value.
Disclaimer
HVS Canada has not verified all the individual hotel sales in
this newsletter; however, we collected the information from
sources we deemed reliable, and the data is thought to be
correct. We cannot warrant its accuracy; it is provided for
your convenience only. Use of this information without
verification from original sources is at your own risk.
A special thanks to:
Colliers International:
Alam Pirani, Robin McLuskie, Russell Beaudry
Jackson & Associates Real Estate Appraisers and Consultants
Dan Wilson, AACI
Kent MacPherson
Adrian Rizzo, AACI
Burgess, Cawley, Sullivan & Associates
Brady Fleguel, AACI
Bourgeois & Company Ltd.
Brett Coley, AACI
Stevenson Advisors Ltd.
Brett Ferguson, AACI
Gettel Appraisal Ltd.
Chris Manolache
Garnett wilson Realty Advisors
Andrew Wilson, AACI
Altus Group
Denis Chevalier, AACI
D.R. Coell & Associates Inc.
Glenn Balderston, AACI
DTZ Barnicke
Owen Hughes, AACI
LJB Lawrek Johnson Bird Appraisals & Consulting Ltd.
Peter M. Lawrek, AACI
Eagleson, Ho & Associates
Philip Ho
Rich Eichler Consulting Inc.
Rich Eichler
Grover, Elliott & Co.
Scott Sutherland
Eximmo Montreal
Veronique Jean, EA
2014 CANADIAN HOTEL TRANSACTION SURVEY – | PAGE 4
2014 Canadian Hotel Sales
BC
AB
Date of
Sale
Property Name
City
Jan-14
Jan-14
Feb-14
Feb-14
Feb-14
Mar-14
Mar-14
Apr-14
Apr-14
May-14
May-14
May-14
May-14
May-14
May-14
May-14
May-14
May-14
May-14
Jun-14
Jun-14
Jun-14
Jun-14
Jun-14
Jun-14
Jul-14
Jul-14
Jul-14
Jul-14
Aug-14
Aug-14
Oct-14
Nov-14
Nov-14
Nov-14
35
Coquitlam Sleepy Lodge
Travelodge Parksville
Port Augusta Inn & Suites
Quality Inn Maple Ridge
Howard Johnson Inn Vernon
Super 8 West Kelowna
Best Western Chelsea Inn
Holiday Inn Express Kamloops
Squamish Budget Inn
Holiday Inn Hotel & Suites Surrey East Cloverdale
Best Western Sands by the Sea
The Pemberton Hotel
Quarterdeck Inn & Marina
Traders Inn Motor Hotel
Super 8
Ocean Resort
Heritage River Inn
Herons Landing Hotel
Above Tide Motel
Poets Cove Resort & Spa South Pender Island
Hotel Eldorado Kelowna
Lake Okanagan Resort
The Fairmont Empress Hotel
Super 8 Motel Merritt
Skylite Motel
Days Inn Downtown Vancouver
Super 8 Williams Lake
Christine's Bed & Breakfast
Dalewood Inn
Ramada Langley Surrey Hotel
Super 8 Cranbrook
Best Western Cowichan Valley Inn
Revelstoke Lodge
Hyatt Regency Vancouver
Howard Johnson Inn Vernon
Sales
Coquitlam
Parksville
Comox
Maple Ridge
Vernon
Kelowna
Coquitlam
Kamloops
Squamish
Surrey
Vancouver
Pemberton
Port Hardy
Chilliwack
Kamloops
Oyster Bay
Campbell River
Campbell River
Campbell River
South Pender Island
Kelowna
Kelowna
Victoria
Merritt
Parksville
Vancouver
Williams Lake
White Rock
Port McNeill
Surrey
Cranbrook
Duncan
Revelstoke
Vancouver
Vernon
Date of
Sale
Property Name
City
Jan-14
Feb-14
Feb-14
Apr-14
Apr-14
May-14
May-14
Jun-14
Jun-14
Jun-14
Jun-14
Jun-14
Jul-14
Aug-14
Aug-14
Sep-14
Microtel Inn & Suites by Wyndham Blackfalds/Red Deer
Bow River Inn
Super 8
Clearwater Residence Hotel Timberlea
Travelodge Drumheller
Travelodge Red Deer
Canmore Hotel
Tunnel Mountain Resort
Comfort Inn & Suites Sylvan Lake
Delta Calgary Airport
Days Inn & Suites Whitecourt
La Biche Inn
Siesta Motel
Ramada Edmonton Hotel & Conference Centre
Nova Inn Hinton
Coast Canmore Hotel & Conference Centre
Blackfalds
Cochrane
Cochrane
Fort McMurray
Drumheller
Red Deer
Canmore
Banff
Sylvan Lake
Calgary
Whitecourt
Lac La Biche
Olds
Edmonton
Hinton
Canmore
Room
Count
Price Paid
Price Per Overall
Room
Cap
40
84
75
61
29
81
61
80
30
76
120
30
40
33
47
33
41
31
21
46
53
217
477
33
24
85
53
6
35
83
45
42
42
644
29
2,927
$2,730,000
3,230,000
3,370,000
3,200,000
1,725,000
2,991,000
5,000,000
8,900,000
1,480,000
11,693,000
30,345,000
1,980,000
6,200,000
1,110,000
N/A
3,800,000
3,075,000
2,750,000
1,150,000
N/A
19,700,000
N/A
N/A
2,550,000
1,300,000
14,800,000
4,100,000
1,600,000
1,050,000
13,800,000
2,420,000
4,300,000
1,730,000
140,000,000
1,280,000
$356,359,000
Room
Count
Price Paid
Price Per Overall
Room
Cap
63
44
48
57
49
135
22
95
61
296
79
34
37
428
70
224
$8,325,000
4,550,000
5,400,000
26,000,000
3,600,000
7,000,000
2,200,000
14,250,000
7,000,000
N/A
8,900,000
3,000,000
1,700,000
19,750,000
4,375,000
N/A
$132,143
103,400
112,500
456,140
73,469
51,900
100,000
150,000
114,800
N/A
112,658
88,200
45,900
46,145
62,500
N/A
$68,250
38,500
44,933
52,459
59,483
37,037
81,967
111,250
49,000
153,900
252,900
66,000
155,000
33,600
N/A
115,151
75,000
88,709
54,761
N/A
371,698
N/A
N/A
77,273
54,167
174,118
77,358
266,700
30,000
166,265
53,800
102,381
41,190
217,391
44,137
$121,749
3.0%
5.9%
9.3%
3.0%
6.9%
13.2%
10.0%
7.6%
N/A
4.2%
1.2%
8.1%
16.4%
N/A
N/A
7.5%
11.2%
7.5%
6.1%
N/A
7.5%
N/A
N/A
N/A
8.5%
3.2%
N/A
N/A
N/A
N/A
N/A
N/A
11.6%
7.0%
9.4%
N/A
N/A
11.8%
8.2%
N/A
N/A
N/A
4.5%
N/A
N/A
11.0%
15.6%
13.6%
N/A
N/A
N/A
(Continue Next Page)
2014 CANADIAN HOTEL TRANSACTION SURVEY – | PAGE 5
2014 Canadian Hotel Sales
AB
MB
ON
Date of
Sale
Oct-14
Oct-14
Nov-14
Nov-14
Dec-14
Dec-14
22
Property Name
Jockey Motel
Holiday Inn Express & Suites Spruce Grove
Best Western Cedar Park Inn
Franklin's Inn
Courtyard & Residence Inn by Marriott Calgary Airport
Ramada Inn Lloydminster
Sales
City
Edmonton
Spruce Grove
Edmonton
Sherwood Park
Calgary
Lloydminster
Date of
Sale
Property Name
City
May-14
May-14
Jun-14
3
Lakeview Inn
Casey's Inn Motor Hotel
Stock Exchange Hotel
Sales
Lac du Bonnet
Lac du Bonnet
Winnipeg
Date of
Sale
Property Name
City
Jan-14
Jan-14
Jan-14
Jan-14
Jan-14
Feb-14
Feb-14
Feb-14
Mar-14
Mar-14
Mar-14
Apr-14
Apr-14
Apr-14
Apr-14
Apr-14
Apr-14
May-14
May-14
May-14
Jun-14
Jun-14
Jun-14
Jun-14
Jun-14
Jun-14
Jul-14
Jul-14
Jul-14
Jul-14
Jul-14
Aug-14
Aug-14
Aug-14
Aug-14
Sep-14
Sep-14
Sep-14
Sep-14
Sep-14
Sep-14
Seven & Seven Motel
Holiday Inn Select Brampton
Motel 6 Huntsville
Super 8 Toronto North
Towne & Country Motel
Best Western Plus The Parlour Historic Inn & Suites
Travelodge London South
Travelodge Chatham
Comfort Inn Oshawa
Comfort Inn Huntsville
Delta Toronto Airport West Mississauga
Tulip Motel
Ambassador Conference Resort Kingston
Quality Hotel & Conference Centre
Super 8 Midland
Quality Hotel & Conference Centre Oshawa
Riverside Motel & Restaurant
Super 8
Comfort Inn Chatham
Talisman Resort & Conference Centre
Comfort Inn St. Catharines
Comfort Inn Owen Sound
Days Inn & Suites Thunder Bay
Days Inn Thunder Bay North
Comfort Inn Toronto North York
Travelodge Hotel by the Falls
Super 8 Peterborough
Midland Inn & Suites
Burleigh Falls Inn & Suites
Courtyard by Marriott Toronto Brampton
Super 8 Peterborough
Hilton Garden Inn Toronto Airport West Mississauga
Airport Inn & Suites London
Holiday Inn Toronto International Airport
Holiday Inn Hotel & Suites Ottawa - Downtown
Best Western Macies Hotel
Holiday Inn Mississauga Toronto West
Quality Suites London
TownePlace Suites by Marriott Sudbury
Four Points by Sheraton Waterloo-Kitchener Hotel & Suites
Best Western Little River Inn
Brampton
Brampton
Huntsville
Vaughan
Windsor
Stratford
London
Chatham
Oshawa
Huntsville
Mississauga
Woodstock
Kingston
Niagara Falls
Midland
Oshawa
Sudbury
Kingston
Chatham
Kimberley
St. Catharines
Owen Sound
Thunder Bay
Thunder Bay
North York
Niagara Falls
Peterborough
Midland
Kawarthas
Brampton
Peterborough
Mississauga
London
Toronto
Ottawa
Ottawa
Mississauga
London
Sudbury
Waterloo
Simcoe County
Room
Count
96
130
195
40
328
61
2,592
Price Paid
$4,365,000
17,700,000
23,625,000
14,100,000
66,000,000
8,753,500
$273,293,500
Price Per Overall
Room
Cap
$45,469
N/A
136,154
N/A
121,000 11.0%
352,500
N/A
201,200
7.4%
143,500 12.5%
$105,437
Room
Count
Price Paid
Price Per Overall
Room
Cap
15
22
16
53
$1,650,000
1,150,000
2,250,000
$5,050,000
Room
Count
Price Paid
29
145
85
85
52
28
126
103
79
71
297
20
246
145
65
194
59
51
80
88
100
60
92
92
144
120
82
30
23
159
82
152
103
446
220
123
138
118
105
104
49
$2,750,000
11,800,000
3,296,000
3,250,000
1,250,000
5,725,000
2,600,000
1,875,000
4,250,000
2,500,000
9,350,000
1,140,000
11,500,000
6,730,000
3,600,000
4,680,000
1,575,000
1,500,000
3,800,000
1,800,000
4,100,000
2,550,000
13,049,508
13,049,508
5,800,000
6,500,000
7,275,000
2,288,000
1,325,000
25,100,000
7,275,000
25,050,000
3,350,000
16,000,000
28,000,000
11,732,000
8,850,000
4,500,000
18,000,000
14,100,000
3,100,000
$110,000
52,300
140,625
$95,283
18.0%
17.0%
N/A
Price Per Overall
Room
Cap
$94,828
81,379
38,776
38,200
24,000
204,464
20,635
18,204
53,797
35,211
31,481
57,000
46,700
46,414
55,400
24,124
26,700
29,412
47,500
20,455
41,000
43,000
141,800
141,800
40,278
54,167
88,700
76,300
N/A
157,862
88,700
164,803
32,500
35,874
127,300
95,400
64,100
38,100
171,429
135,600
63,300
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
1.1%
N/A
N/A
N/A
N/A
N/A
N/A
N/A
8.5%
N/A
9.0%
9.0%
N/A
3.0%
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
(Continue Next Page)
2014 CANADIAN HOTEL TRANSACTION SURVEY – | PAGE 6
2014 Canadian Hotel Sales
ON
QC
NB
Date of
Sale
Oct-14
Nov-14
Nov-14
Dec-14
Dec-14
46
Property Name
Fairmont Royal York Hotel
Comfort Inn Leamington
Comfort Inn Trenton
Quality Hotel Ottawa
Park Hyatt Toronto
Sales
City
Toronto
Leamington
Trenton
Ottawa
Toronto
Date of
Sale
Property Name
City
Jan-14
Feb-14
Mar-14
Mar-14
Mar-14
Apr-14
May-14
May-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Dec-14
14
Holiday Inn Midtown
Comfort Inn Levis
Loews Hotel Vogue
Loews Le Concorde
Hôtel des Seigneurs Saint-Hyacinthe
Loews Le Concorde
Comfort Inn Montreal Aeroport Pointe-Claire
Comfort Inn Dorval Airport
Z Plaza Hotel
Manoir St-Castin
Hotel Tadoussac
Comfort Inn Sainte-Foy
Novotel Montreal Airport
Fairmont Le Chateau Montebello
Sales
Montreal
Levis
Montreal
Quebec
Saint-Hyacinthe
Quebec
Pointe-Claire
Dorval
Victoriaville
Lac-Beauport
Tadoussac
Sainte-Foy
Montreal
Montebello
Date of
Sale
Property Name
City
Dec-14
Hampton Inn & Suites Saint John
Saint John
Property Name
City
Comfort Inn Dartmouth
Coastal Inn
Delta Halifax
Delta Barrington
Future Inn Halifax
Sales
Dartmouth
Halifax
Halifax
Halifax
Halifax
Property Name
City
Radisson Plaza Saskatchewan
La Ronge Hotel & Suites
Sales
Regina
La Ronge
Property Name
City
Nova Court Yellowknife
Yellowknife
Room
Count
1,363
61
76
212
346
6,648
Price Paid
$186,500,000
2,600,000
2,250,000
N/A
105,000,000
$631,315,016
Price Per Overall
Room
Cap
$136,831
N/A
42,623
N/A
29,605
N/A
N/A
N/A
303,468
N/A
$94,963
Room
Count
Price Paid
Price Per Overall
Room
Cap
488
98
406
406
290
406
99
98
14
104
149
78
120
211
2,967
$65,000,000
4,100,000
12,000,000
11,500,000
8,200,000
12,000,000
3,800,000
3,800,000
1,340,000
4,550,000
N/A
2,850,000
7,450,000
N/A
$136,590,000
Room
Count
Price Paid
116
$8,000,000
Room
Count
Price Paid
80
65
296
200
132
773
$3,475,000
2,600,000
N/A
N/A
10,235,000
$45,310,000
Room
Count
Price Paid
224
49
273
$32,800,000
3,465,000
$36,265,000
Room
Count
Price Paid
106
$21,680,000
$204,528
16,455 $1,513,862,516
$92,000
$133,197
41,837
29,557
28,325
28,276
29,557
38,384
38,776
95,700
43,800
N/A
36,500
62,083
N/A
$46,036
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
13.5%
N/A
Price Per Overall
Room
Cap
$68,966
9.4%
1
NS
Date of
Sale
Jan-14
Apr-14
Jun-14
Jun-14
Sep-14
5
SK
Date of
Sale
Feb-14
Jun-14
2
NWT
Date of
Sale
Jan-14
1
129
Total Hotel Sales
Price Per Overall
Room
Cap
$43,400
40,000
N/A
N/A
77,500
$58,616
N/A
N/A
N/A
N/A
10.5%
Price Per Overall
Room
Cap
$146,429
70,700
$132,839
11.5%
N/A
Price Per Overall
Room
Cap
10.4%
2014 CANADIAN HOTEL TRANSACTION SURVEY – | PAGE 7
About HVS
About Authors
HVS is the leading consulting and services organization focused on
the hotel, mixed-use, shared ownership, gaming, and leisure
industries. Established in 1980, the company performs 4500+
assignments each year for hotel and real estate owners, operators,
and developers worldwide. HVS principals are regarded as the
leading experts in their respective regions of the globe. Through a
network of more than 30 offices and 450 professionals, HVS
provides an unparalleled range of complementary services for the
hospitality industry. www.hvs.com.
Aaron Laurie is a research
assistant with HVS Canada.
He is currently enrolled as a
fourth year student at the
University
of
Guelph,
working to earn his Bachelor
of
Commerce
degree
majoring in Hotel & Food Administration. Prior
to his work with HVS, Aaron held various
positions in hotel operations with companies
including Fairmont Hotels & Resorts, IHG, and
Wyndham Hotel Group.
Superior Results through Unrivalled Hospitality Intelligence.
Everywhere.
HVS Canada performs major portfolio appraisals and single-asset
consulting assignments and valuations from coast to coast. Our
professional team is expert in: appraisal work; feasibility studies;
market studies; portfolio valuation; strategic business planning and
litigation support. Managing partners in both the Vancouver and
Toronto practices have their AACI, MAI and MRICS/FRICS appraisal
designations and all associates are candidate members of the
Appraisal Institute of Canada. HVS partners and associates are also
members of the Appraisal Institutes of Alberta, New Brunswick and
Nova Scotia.
Our extensive experience and knowledge provide you with
expertise on product types including: hotels from all price tiers:
luxury, midscale economy, budget; hotels from all location types
including suburban, urban, airport, highway and small town;
boutique hotels to large-scale resorts; independent and branded
hotels; convention, conference and transient oriented hotels;
extended stay hotels and work camps
www.hvs.com
Carrie Russell, AACI, MAI,
Managing Director – Over
the course of her 17-year
career with HVS, Carrie has
been involved with appraisals
and/or feasibility studies for
over 1,500 hotel properties
throughout Canada and the
United States. She speaks regularly at industry
conferences and has authored several articles
on various topics relevant to the industry. As a
member of the Appraisal Institute of Canada
and the US Appraisal Institute, Carrie combines
her hotel industry experience and education
with her real estate credentials to assist clients
in making informed hotel investment decisions.
Contact information:
Phone: (604) 988-9743
Email: [email protected]
HVS IN CANADA | 6 Victoria Street, Toronto, ON M5E 1L4, CANADA
| Suite 400 – 145 West 17th Street, North Vancouver, BC V7M 3G4, CANADA