TORONTO — Colliers International Hotels announced on April 2 the sale of a majority interest in the Westin Grand Vancouver to Pacific Reach Properties for an undisclosed sum.
The 207-room Westin Grand is located at the confluence of Vancouver’s downtown core and the Gastown and Yaletown neighbourhoods, close to Rogers Arena, B.C. Place, Granville Island, Stanley Park, Pacific Centre Mall and the Olympic Games Village. Suites offer city views and the property also features an outdoor swimming pool, WestinWORKOUT centre and Hidden Tasting Bar, as well as more than 5,000 square feet of meeting space.
According to a release, the sale offering “received significant interest from a variety of domestic and foreign capital sources.” The buyer, Pacific Reach Properties, is an established hotel owner/operator in the Vancouver market with a growing portfolio of hotel, multi-family, commercial and retail assets under management.