Desintation Vancouver and experts are concerned that Vancouver's attractiveness as a destination will be impacted with a shortage of accommodation which will also impact retailers.
A report by Colliers shows that a slower return to the office is impacting the city's downtown while suburban retail vacancies see a downturn, though the return of tourists and cruise ships is a positive for the core.
Vancouver is the "polar opposite of everywhere else in North America" says an expert from Colliers which found that a lack of pandemic lockdowns has resulted in an unexpectedly robust rebound.
The sustainability-focused footwear and fashion brand has confirmed that it will open two stores in Canada this year as it launches an expansion into new countries following an IPO last year.
As many as eight new stores are planned for North America over the next year and a half. The impact-driven lifestyle brand has a charitable component that has already built 15 schools in rural Egypt.
The initiative is part of a rollout for the retailer as it diversifies its offerings based on consumer preferences, according to an executive in an interview.
JLL says that Vancouver has fared better than other markets and that luxury brands are among the players looking to move in to cater to Asian consumers.
The historic flagship will see an office tower built above, a new transit interchange, and a new tech-heavy smaller store as Hudson's Bay looks to the future of retail.