As Metro Vancouver faces an urgent need for more hotel rooms, Bosa Properties has acquired the Best Western Plus Burnaby Hotel and an adjacent property on Kingsway, signalling a strategic bet on the city's growing hospitality sector.
The Vancouver-based real estate developer completed the acquisition of the 2.7-acre site at 5411 Kingsway and a 0.17-acre parcel at 5367 Kingsway in November through the purchase of shares in the company holding the properties, 550235 BC Ltd. The Best Western Plus Burnaby Hotel, originally constructed in 1977, is now managed by Atlific Hotels and is undergoing a major renovation set to finish by summer 2025.
"Our mid-term plan for the site is to continue to operate the Best Western Plus Burnaby Hotel with a significant renovation... We are also considering the long-term redevelopment potential of the site, in alignment with the City of Burnaby's development of a new community plan for the Royal Oak neighbourhood," a Bosa Properties spokesperson says in a statement to Storeys.
"This property checked a lot of boxes for us," says Marc Ricou, executive vice-president, commercial at Bosa Properties. "The existing hotel has great fundamentals—a central location, a lot of parking and a variety of room types."
Renovations include updates to guest rooms, new flooring and furnishings, upgraded Wi-Fi, and new 55-inch smart TVs. Former meeting rooms will be repositioned into a breakfast and lounge area. Bosa Properties expects the modernization will position the hotel strongly for the busy summer travel season and events such as the FIFA World Cup.
Preparing for heightened demand in Metro Vancouver
The Best Western Plus Burnaby Hotel’s renovation comes as the Vancouver Hotel Development Task Force, Destination Vancouver and the BC Hotel Association warn of a severe shortfall in hotel capacity. The region is projected to require 10,000 additional hotel rooms by 2050 to meet growing tourism and business travel demand.
The shortage is already having economic impacts. Without new investment and updated hotel supply, Metro Vancouver risks missing out on large-scale events and major economic stimulants, as shown by the scramble for accommodations during Taylor Swift’s Eras Tour stop in the city.
"Canada’s hospitality industry is experiencing a welcome resurgence," says Steven Chen, Hospitality Investment Sales at NAI Commercial and president of Skål Vancouver. "Leisure trips and business travel are booming, but a new trend is emerging—the rise of bleisure travel, where business trips are seamlessly blended with leisure experiences."
Chen said the blending of business and leisure markets is now crucial for profitability and is reshaping how developers approach hotel projects.
“The rising trend of owning and operating bleisure hotels is quickly gaining traction," he says. "Traditionally, the leisure hotel market and corporate hotel market served two separate purposes; the former was heavily dependent on amenity-rich weekend bookings and the latter accommodated the weekday business travel. Today, it is impossible for hotels to be profitable without the merger of these two types of uses."
Long-term opportunities ahead
The long-term future of the Kingsway properties may include redevelopment, depending on density increases anticipated under the City of Burnaby’s evolving Royal Oak Community Plan. The immediate plan, however, is to maximize current demand with a well-positioned mid-market hotel offering.
Ricou says hotels require periodic updates to stay competitive: "Hotels need to be refreshed every so often to stay competitive—usually every five to seven years. We believe a renovation will elevate the guest experience, align with our brand standards, and enhance the property's market position."
The renovation strategy mirrors Bosa Properties' recent updates to its Element by Westin property nearby, where guest rooms, common areas, and the lobby were modernized to meet the expectations of contemporary travellers.
As Vancouver’s hospitality sector prepares for years of increased demand, strategic investments like Bosa’s renovation and repositioning of the Best Western Plus Burnaby Hotel are seen as critical moves to help the city meet future needs—and capture the economic opportunities that come with them.
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