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Reach Fishing Lodge Owners When They’re Thinking About Selling
This iFishCanada resource centre helps lodge and resort owners understand valuation, appraisal, due diligence, listing preparation, taxes, and the process of selling a fishing lodge.
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To get a fishing lodge appraised, decide what you need the number for, then hire the matching professional: a broker’s opinion of value to set an asking price, a real estate appraisal for land, buildings and lending, or a business valuation by a Chartered Business Valuator (CBV) for the operating business, tax or family transfers. Many lodge sales use more than one. This page is part of our guide How Much Is My Fishing Lodge Worth?
Which type of valuation do I need?
| Purpose | What to get | Who provides it |
|---|---|---|
| Setting an asking price | Broker’s opinion of value | A broker or registered agent who sells lodges |
| Supporting a buyer’s financing | Real estate appraisal | A designated appraiser, usually hired by the lender |
| Valuing the operating business and goodwill | Business valuation report | A Chartered Business Valuator |
| Selling to family, a partner buyout, estate or tax planning | Business valuation report, sometimes with a real estate appraisal | A CBV, often working with your accountant |
| Valuing boats, motors, vehicles or aircraft | Equipment appraisal | An equipment or aviation appraiser |
What is a broker’s opinion of value?
A broker’s opinion of value (sometimes called a comparative market analysis) is a broker’s view of the price your lodge could sell for, based on its earnings, assets and the sales they know of. It is usually free or low-cost when you are considering listing with that broker. It is useful for setting a price, but it is not an independent valuation: the broker hopes to win your listing. Ask how they reached the number and which sales they compared.
What is a real estate appraisal?
A real estate appraisal estimates the market value of land and improvements. In Canada, commercial appraisers commonly hold the AACI designation from the Appraisal Institute of Canada. Lenders usually order their own appraisal when a buyer applies for financing, so your appraisal will not replace theirs. Commissioning one before you list can still help: it shows how a lender is likely to see the property and flags issues early. Choose an appraiser with commercial or hospitality experience, preferably with resource-based tourism properties.
What is a business valuation?
A business valuation estimates the value of the operating business, including goodwill, using the income, market and asset approaches. Chartered Business Valuators are credentialed by the CBV Institute and follow its practice standards. They offer three levels of report, from least to most detailed: a calculation report, an estimate report and a comprehensive report. The more detailed the report, the more it costs and the more weight it carries with buyers, lenders, the Canada Revenue Agency or a court.
For a sale to an outside buyer, a calculation or estimate report is often enough to support your price. For a transfer to family members or a non-arm’s-length party, where the tax rules expect fair market value, ask your accountant which level you need.
Free report: Prepare Your Lodge for Sale. Includes the baseline numbers any appraiser or valuator will ask for first. Use the form at the end of this page.
What will a valuator ask me for?
Have these ready before your first meeting:
- Three years of financial statements and tax returns, plus year-to-date figures
- A normalization schedule of add-backs, with evidence
- Booking records: occupancy, package prices, rebook rate and booking sources
- A list of land, buildings, equipment and inventory, with condition and age
- Crown land permits, leases, licences and allocations, with expiry dates
- Any recent appraisals, insurance schedules or equipment quotes
- Known issues: repairs, compliance items, disputes
Our due diligence checklist lists the full set. The better your file, the less time the valuator spends and the lower the bill.
What should I ask before hiring an appraiser or valuator?
- Have you valued fishing lodges, resorts or other seasonal tourism businesses? Where?
- Which approaches will you use, and why?
- What level of report will I receive, and who is it addressed to?
- Can my buyer or lender rely on it?
- How do you handle Crown land permits and licences that may not transfer?
- What do you need from me, and when will the report be ready?
- What is your fee, in writing, and what does it include?
Fees depend on the size of the lodge, the level of report and how organized your records are. Ask for a written quote before you agree.
Can I value my lodge online?
Online calculators can give you a starting point, but none can see your records, tenure or condition. Treat any online figure as a question to test, not an answer. The calculator in our free report does something narrower and more useful as a first step: it measures your baseline revenue, open capacity and the value of returning guests from your own numbers. Those are the figures a valuator starts from.
When should I get a valuation?
Early. A valuation a season or two before you sell shows what is holding the price down while there is still time to fix it. A second, updated opinion when you list confirms your asking price. Owners who wait until a buyer appears often discover issues they can no longer fix.
What if the valuation is lower than I expected?
Ask the valuator which factors held it down. Usually they are records, owner dependence, tenure or condition, all covered in what raises and lowers a lodge’s sale price. Decide whether to sell now at that range, or to spend one to three seasons improving what the valuator identified.
Frequently asked questions
Is an appraisal the same as a valuation? Not quite. An appraisal usually means real estate. A valuation usually means the whole business. Lodges often need both.
Will the buyer accept my valuation? They will consider it, and their lender will do its own. A credible report narrows the gap.
Do I need a CBV to sell to an outside buyer? No, but a CBV report can support your price, especially when goodwill is a large part of it.
Can my accountant value the lodge? Some accountants are also CBVs. Ask whether yours is, and whether they are independent enough for the purpose.
Get the free report: Prepare Your Lodge for Sale
Twelve steps to take before you list, including how to measure your revenue and occupancy the way buyers and lenders will. Fill in the form and get instant access to the report.
General information only; not a valuation, tax or financial advice. As of October 2026.