CHICAGO—An affiliate of Hyatt Hotels Corporation has sold the 644-room Hyatt Regency Vancouver to InnVest Real Estate Investment Trust for approximately $123 million or $190,000 per key. The hotel will continue to operate as a Hyatt Regency hotel.
“We are delighted to enter into a relationship with InnVest, a well-respected hotel owner with deep expertise in the Canadian hospitality market,” said Stephen Haggerty, global head, capital strategy, franchising and select service for Hyatt. “By continuing to execute on our asset recycling strategy, we are able to strategically plan for growth in locations where Hyatt brands are underrepresented while retaining our brand presence in key cities around the world.”
Hyatt Regency Vancouver is centrally located in downtown Vancouver. The hotel features more than 45,000 square feet of meeting and event space, a Starbucks, Grain Tasting Bar, which offers regional wine and craft beer, and Mosaic Bar and Grill, which features locally sourced produce, sustainable seafood, and signature cocktails.