The iconic Pink Palace Hotel has a new owner, and we have some preliminary indications about its future.
Rishi Dhir, the realtor behind the 1160 King George Boulevard property, told Daily Hive Urbanized that the Surrey property sold for $18 million on September 6.
While we know it as the Pink Palace Hotel, it was formerly the Pacific Inn Resort and Conference Centre. According to Dhir, there’s a good chance it’ll be a hotel again.
Royal Pacific Realty
The Pink Palace Hotel has been primarily used as a filming location in recent years. It was originally listed for $25,380,000. We learned earlier this year that an initial offer of $18,000,000 was accepted, which has now been solidified as the final sale price in the court-ordered sale.
The property is a short distance from the Semiahmoo Shopping Centre.
Google Maps
When we spoke to Dhir earlier this year, he said most potential buyers wanted to revitalize the place. We also learned that since it had been listed in December, it may have been used for filming at least once.
Dhir told Daily Hive Urbanized that the new owners are in the development and hotel business. They took over the property during the first week of September.
Royal Pacific Realty
“The plans are at this point to revive it as a hotel,” Dhir said.
Royal Pacific Realty
The final sale price is a steep drop from the initial asking price of $30,000,000.
Built in 1992, the building features five storeys on a 4.8-acre piece of land. Its interior floor area is over 136,000 sq ft. Over the last few years, the exterior was repainted from pink to white.
The original hotel featured 150 guest rooms and 10,000 sq ft of meeting and event space.
According to the initial Royal Pacific Realty listing, the property also includes an “impressive glass-covered indoor atrium courtyard.”
If it does indeed become a hotel again, what hotel chain would you prefer the Pink Palace become?