A boutique hotel in Richmond, Versante Hotel, has been operating for three years and is now listed for sale by BC court order at $98 million. Avison Young markets the property, highlighting its luxury features and proximity to Vancouver International Airport. Forbes once dubbed it “Vancouver’s newest ‘it’ hotel.” The hotel houses multiple restaurants, including Acre Through the Seasons and Bruno, which have recently closed. With 100 rooms, the price nears $1 million per suite. Positioned adjacent to Richmond’s International Trade Centre, the hotel has received positive reviews online.
Shareholder disputes and loan defaults led to the court ordering the hotel’s sale. Court documents reveal mortgage default claims by Fox Island Development Ltd. and Advanced Venture Holding Co. Ltd., totaling nearly $80 million. The hotel, owned by developer Mo Yeung Ching, remains open amid the sale process according to a spokesperson.
