Park Hyatt (1128 W Georgia) | 197m | 62 fl | Completed

[csbvan]

That's the interim branding between taking over the former Shangri-La and renovating and rebranding to Park Hyatt.

[whatnext]

Originally Posted by connect2source

If there is to be a sign it won't read Park Hyatt as this hotel has been branded "Hyatt" which seems new to me and possibly a category positioned between Park Hyatt and Hyatt Regency.

https://www.hyatt.com/hyatt-hotels/en-US/yvrph-hyatt-vancouver-downtown-alberni

I thought they had said that was only temporary until a refurbishment to bring it up to Park Hyatt standards?

[officedweller]

That's my understanding too - they need to bring it up to Park Hyatt standards before they use the name.

[LeftCoaster]

Originally Posted by whatnext

I thought they had said that was only temporary until a refurbishment to bring it up to Park Hyatt standards?

I can confirm that is the plan.

It is currently not to the standard of a Park Hyatt so they won't brand it that way until the renovation is complete and the brand standards have been hit.

[whatnext]

Brookfield has ended up selling the retail podium to Aquilini.

Exclusive: Brookfield Flips Shangri-La Vancouver Retail Podium To Aquilini For $55M
A fund managed by Brookfield Asset Management acquired the Shangri-La Vancouver last summer and then listed the retail component a few months later.
Howard Chai
Mar 05, 2026

Canadian multinational investment firm Brookfield has sold the retail component of the Shangri-La Vancouver, The Realist has learned, flipping the asset less than a year after acquiring it alongside the hotel component.

Developed by Vancouver-based Westbank and its long-time partner Peterson, with James KM Cheng Architects serving as the architect, the Shangri-La Vancouver sits along Thurlow Street between W Georgia Street and Alberni Street...

https://howardchai.substack.com/p/shangri-la-vancouver-hyatt-retail-brookfield-aquilini

[jollyburger]

Brookfield Flips Shangri-La Vancouver Retail Podium To Aquilini For $55M

Industry sources confirmed to me that Brookfield acquired the two parcels for a grand total between $150 million and $200 million, as I reported for Storeys on July 2, and the price was later confirmed to be $160 million.

https://howardchai.substack.com/p/shangri-la-vancouver-hyatt-retail-brookfield-aquilini

I assume renovations will start after FIFA.

[officedweller]

There's not a lot of retail space there unless Urban Fare leaves (it ain't converting to Save-on-Foods I hope)
and it is repurposed to high end retail fronting both Alberni and West Georgia?

[jollyburger]

Originally Posted by officedweller

There's not a lot of retail space there unless Urban Fare leaves (it ain't converting to Save-on-Foods I hope)
and it is repurposed to high end retail fronting both Alberni and West Georgia?

Would it be easy for them to change it to smaller CRUs? I doubt planners/council would want that to happen. Maybe they'll kick out The Keg and open their own restaurant concept.

I guess the same question can be asked why would Brookfield sell it if it was a steady income earner.

The retail component is fully leased to Burberry, Urban Fare, and The Keg, with a fully extended weighted average lease term of approximately 15.8 years that offers investors stable cash flow. The sales brochure also notes that there is an opportunity "to drive significant rental growth at Urban Fare and the Keg through a contractual 2028 FMV rent reset or re-leasing campaign." The property also includes 79 vehicle parking spaces.

https://storeys.com/shangri-la-vancouver-retail-component-brookfield-listing/

[officedweller]

By me today - Alberni side - retail (or lobby?) renos:

[osirisboy]

Isn’t that rolex

[jollyburger]

They were doing renovations and joining the two units. They moved across the street (?) temporarily into the old DeBeers unit

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