Metro Vancouver Hotel & Short Term Rental Market Discussion

[jollyburger]

Originally Posted by bb1510

LOTR still showing the same corporate directors for the Shangri La and Pac Rim, will probably have to wait until next year when the holding company updates the filing details or if anyone can do a corporate registry search to figure out the new owners and spill the beans that would be great

I guess the Shangri-La strata would get notification?

[C3YVR]

This explains the upcoming Rolex move across the street with Park Hyatt likely wanting to reclaim that space for future hotel use as part of the renovation.

[svlt]

Definitely an upgrade. Shangri-La is pretty obscure and not that well known in the Western world whereas the Park Hyatt, as another poster alluded to is internationally recognized, almost as much as a Ritz-Carlton would be.

[bb1510]

Buyer of the Shangri La is a multibillion real estate/asset management company that is very well known with global presence down south.

The name begins with the same letter as a couple of other well known asset managers/investment banks.

It's a public company so I presume there will be a press release, but maybe not since it's such a small asset (relative to their other holdings), but maybe in a quarterly report we will be able to see

[whatnext]

Originally Posted by svlt

Definitely an upgrade. Shangri-La is pretty obscure and not that well known in the Western world whereas the Park Hyatt, as another poster alluded to is internationally recognized, almost as much as a Ritz-Carlton would be.

Mandarin fled, now Shangri-la. It always surprises me Pan Pacific has held on as long as it has. Another brand with little presence in North America or Europe.

[Conrad Yablonski]

Originally Posted by bb1510;10449682[URL="https://newsroom.hyatt.com/hyattvancouver"

https://newsroom.hyatt.com/hyattvancouver[/URL]
Also, all the staff will be remaining .

This is Good News-I used to pick up/drop off tour groups @ Shangri-La and the Staff there were several cuts above many of the drudges I encountered in other operations.

[bb1510]

Originally Posted by bb1510

Buyer of the Shangri La is a multibillion real estate/asset management company that is very well known with global presence down south.

The name begins with the same letter as a couple of other well known asset managers/investment banks.

It's a public company so I presume there will be a press release, but maybe not since it's such a small asset (relative to their other holdings), but maybe in a quarterly report we will be able to see

Name of the company is public - just do a title search on the pending mortgage charge on title. It was a share sale as it's the same holding company, but the new mailing address and the signing officer is evident there.

There should be a release or news article soon, so I won't list the company yet

[jollyburger]

No clue who it is but I'll guess Brookfield

[bb1510]

Originally Posted by jollyburger

No clue who it is but I'll guess Brookfield

Perhaps

[s211]

Blackstone?

[bb1510]

Originally Posted by jollyburger

No clue who it is but I'll guess Brookfield

Looks like you were right

https://vancouversun.com/news/brookfield...retail-space-in-downtown-vancouver-tower

[jollyburger]

Sources tell STOREYS that Brookfield acquired both the hotel parcel and retail parcel for a grand total between $150 million and $200 million and that a deal has been under discussion for some time.

Upon inquiry, Peterson also said that there are no plans to sell the Shangri-La Toronto, which was also developed by Westbank and Peterson.

Should have asked about Pac Rim?

https://storeys.com/shangri-la-vancouver-brookfield-westbank-peterson-hyatt/

[officedweller]

If they are reclaiming the Rolex space, I wonder if they'll
convert the Burberry store to hotel function space?
... or The Keg or Urban Fare.
There's no large ballroom there is there?

[jollyburger]

Originally Posted by officedweller

If they are reclaiming the Rolex space, I wonder if they'll
convert the Burberry store to hotel function space?
... or The Keg or Urban Fare.
There's no large ballroom there is there?

I was just thinking if there was any option for luxury goods in the Urban Fare space.

Do they need a ballroom for such a small hotel? Burberry is 3000 sq feet.

[officedweller]

Yeah, it's a small hotel, but at that luxury level, it may require more function spaces.
Paradox has a ballroom. I was thinking The Keg space could be a function space, and Burberry could be a lobby lounge/bar.
I wonder if they could turf Urban Fare (or if they want to leave) and convert to high end retail.

The Conway Room is the biggest meeting room:


https://thevendry.com/venue/141283/shangri-la-vancouver-vancouver-canada/space/106211

[C3YVR]

Turns out the Rolex move across the street is only going to be temporary while they expand and renovate their current store.

[jollyburger]

Exterior and interior alterations to expand the existing Retail store at 1119 Alberni Street to the adjacent retail unit at 1113 Alberni Street and provide tenant improvements to this existing retail store with ancillary office on the ground floor of this existing mixed use building.
Ok for Field Review, Jamie Z, June 13 2025

https://plposweb.vancouver.ca/Public/Default.aspx?PossePresentation=Guest&PosseObjectId=267471022

Architects did a Rolex in Orlando and Birks on Bloor

https://obertiarchitecture.com/portfolio/rolex-store/

[whatnext]

I thought some might find this WSJ piece from a couple days ago interesting. Not specifically Vancouver but it does mention Moxy as one of the hotel brands and they will be opening on Seymour.

• Video Link

[jollyburger]

Pacific Reach (Rosewood, Hilton Vancouver Downtown) & Dilawri are getting into the hospitality game

https://financialpost.com/real-estate/pr...i-group-team-up-buy-ritz-carlton-toronto

[whatnext]

Another change to the product at 888 Broadway. Seems a bit strange to be downsizing the hotel component if we are so short of rooms. Whereas there is a lot of rental coming online and a lot of unsold condo inventory for housing.

New Hilton hotel on West Broadway in Vancouver downsized for new rental housing component
Kenneth Chan
Nov 3 2025

...The newly submitted 2025 revised rezoning application calls for retaining the overall design, height, and density of the previous 2024 rezoning application submission, but there will be a pivot to a mixed-use project that also includes a secured purpose-built rental housing component — a downsizing of the hotel size...

https://dailyhive.com/vancouver/888-west...hilton-hotel-rental-housing-bosa-concept