|
|
World Trade Centre Office Complex for Sale; Will Retain Management Contract |
Vancouver, BC --- Tokyu Canada Corporation today announced that it
has offered its 504-room Pan Pacific Hotel Vancouver and adjoining 200,000
sq ft World Trade Centre office building for sale. However, the award-winning
Pan Pacific Hotel will continue to be managed by Pan Pacific Hotels and
Resorts (PPHR) as part of the chain's plans to further develop its luxury
brand across North America. Tokyu Canada opened the two Canada Place landmarks
in 1986 with a 99 year lease.
"Vancouver's Pan Pacific Hotel has won every possible award as our flagship
in North America and we want to see that brand and reputation expanded
even further," added Mr. Halliday. "I've been here since March of last
year with an eye to future expansion, something that has been a part of
our long term plan ever since we opened in 1986. We'd like to target hotel
management opportunities in other major cities such as
"But, we'll be taking a good look at every potential purchaser because we want the perfect fit, someone who understands our core values, including our commitment to growing the Pan Pacific brand, and creating additional opportunities for our associates, the men and women who come face-to-face with our guests each and every day. "At the end of the day, for those of us at the Pan Pacific Hotel, it continues to be about caring for our guests and our associates who work alongside us, and that's not going to change with a new owner. As an AAA/CAA Five Diamond hotel, and a member of the prestigious Leading Hotels of the World, I think we've built an incredible team at the Pan Pacific Hotel. Now, we have the chance to enhance and build our brand in other cities. It's an opportunity to continue growing with a new owner, and an exciting prospect for all of us." Wilf Spencer, Tokyu Canada's Vice President of Properties, says Vancouver World Trade Centre tenants should expect "business-as-usual", even with a sale of the building. "Vancouver's World Trade Centre is one of the city's leading Class A office buildings, and has always been in demand," explained Mr. Spencer. "Tokyu Canada has retained Colliers International as our exclusive advisor for the sale of the two buildings and we expect both properties to attract significant interest with their unique individual reputations." Pan Pacific Hotels and Resorts currently encompass 18 hotels (15 managed and three marketing affiliates) in 12 countries in Asia, the Pacific and North America. In North America, PPHR operates hotels in Vancouver, San Francisco and
Whistler.
The 504-room luxury hotel is located in the heart of Vancouver's downtown harbour front. The Hotel shares the same complex as the World Trade Centre and the Vancouver Convention & Exhibition Center. |
###
Wilfred Spencer Vice President, Properties Tokyu Canada Corporation 604 682 7391 Steve Halliday Senior Vice President, PPHR General Manager, Pan Pacific Hotel 604 891 2860 |