"Over the past 16 years, we have had many unsolicited expressions of interest from potential buyers," explained Mr. Toshiyuki Hoshino, President, Tokyu Canada Corporation. "But, we have always taken a long-term view of our assets. As a result, we wanted to take time to build each business before looking seriously at any opportunities to sell. Now, we believe the time is right, and we're going to the market with two of Vancouver's best known buildings." Steve Halliday, Senior Vice President, Pan Pacific Hotels and Resorts America, and General Manager of the Pan Pacific Hotel Vancouver, said the sale is also a unique

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.

"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
Toronto, Los Angeles, Seattle and Whistler. In the hotel business it's pretty common to operate and manage under contract, without owning the building itself.

"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.