Canada Commercial Realty


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The largest hotel deal in Vancouver

Strata-titled hotel bought by local developer and hotelier for $489,510 per key
The Nov. 28 sale of the Granville Suites Hotel was Vancouver’s largest since the Rosewood Hotel Georgia in 2017.

DEAL | Global Education Communities Corp. completed the sale of 718 Drake Street, Vancouver, on Nov. 28, 2023. The 12-storey, 143-room strata-titled hotel includes a White Spot on the ground floor. The sale price works out to $489,510 a room. The transaction was brokered by Avison Young, which described the sale as the largest hotel deal in Vancouver since the 2017 sale of Vancouver’s Rosewood Hotel Georgia for $145 million. Since rebranded the Grand Park Hotel and Suites Downtown Vancouver, 718 Drake Street was acquired by a local hotelier and developer who also operates the Grand Park Hotel Vancouver Airport in Richmond.

PRICE | $70,000,000