One of Victoria’s most prominent waterfront hotels is now under new ownership.
Toronto-based InnVest Hotels announced April 1st that it has acquired the Hotel Grand Pacific, a landmark property located in the heart of downtown along the Inner Harbour.
The 304-room hotel, owned by Pacific Sun since 1996, had been on the market for months and is valued at nearly $48 million, according to BC Assessment.
According to InnVest, the acquisition adds a “high-quality asset” to its growing national portfolio and aligns with its strategy of investing in well-located, high-performing properties across Canada.
“This acquisition represents an exciting milestone for InnVest as we continue to invest in high-quality assets in Canada’s most dynamic markets,” said president and CEO Lydia Chen.
“The Hotel Grand Pacific is an exceptional property with a prime Inner Harbour location, strong community ties, and significant potential.”
The property includes more than 10,000 square feet of naturally lit meeting and event space, along with outdoor reception areas commonly used for conferences, weddings, and social events.
Guests also have access to a full-service, membership-based athletic club featuring a lap pool and fitness facilities, one of the more notable wellness offerings in the region.
Dining at the hotel is anchored by Fathom, a well-known restaurant that focuses on seasonal, locally inspired cuisine.
InnVest says the acquisition reinforces its commitment to expanding in both urban and resort destinations while continuing to deliver strong guest experiences.
The company is one of Canada’s largest hotel owners and operators, with a portfolio that spans properties across the country.
