First Nation buys recently-built Marriott hotel in Downtown Nanaimo | Daily Hive

Courtyard by Marriott Nanaimo hotel. (Snuneymuxw First Nation)

Snuneymuxw First Nation has acquired the remaining ownership stake in the Courtyard by Marriott Nanaimo, bringing the Downtown Nanaimo hotel property entirely under the First Nation’s control.

The acquisition was completed through Petroglyph Development Group (PDG), the First Nation’s wholly owned economic development corporation. The hotel had previously been jointly owned with Utah-based real estate investment firm PEG Companies.

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Financial terms of the transaction were not disclosed.

According to BC Assessment, as of July 2025, this property carries an assessed value of $24.5 million, including $1.29 million from the land and $23.2 million from the structure.

“This acquisition is about bringing prosperity home. Full ownership of the Courtyard by Marriott Nanaimo allows us to continue building lasting benefits for our people and the region,” said Mike Wyse, the chief of the Snuneymuxw First Nation, in a statement this week.

Courtyard by Marriott Nanaimo hotel. (Snuneymuxw First Nation)

Located at 100 Gordon St., across from Vancouver Island Conference Centre, the nine-storey hotel has 172 guest rooms and currently employs 48 people.

Construction began in January 2020, and the hotel began welcoming guests in March 2023. Since its opening, the hotel has helped filled the gap in the longstanding shortage of hotel rooms near Nanaimo’s conference centre.

The hotel’s design and engineering previously attracted attention as one of the largest deployments of Vancouver-based Nexii’s proprietary prefabricated building technology, which was promoted as a greener and faster alternative to conventional construction methods. Its exterior shell was assembled using 140 structural panels manufactured in Squamish and transported to Nanaimo for installation. Nexii later encountered financial difficulties, leading to a bankruptcy sale in 2024, followed by the company’s reorganization and relaunch.

marriott courtyard nanaimo hotel 100 gordon street

June 2021 construction progress on the Courtyard by Marriott Nanaimo hotel. (City of Nanaimo)

2022 construction progress on the Courtyard by Marriott Nanaimo hotel. (Nexii)

Following a competitive bidding process in late 2017, the City of Nanaimo selected the Utah company to develop the City-owned property into a hotel and sold the site to the company for $750,000.

The City had previously encountered difficulties advancing a hotel on the property, with earlier development partners withdrawing as project costs escalated.

“We are proud to invest in Nanaimo’s downtown core, strengthening the city’s tourism and conference sector while maintaining stable jobs,” said Ian Simpson, the CEO of PDG.

Courtyard by Marriott Nanaimo hotel. (Snuneymuxw First Nation)

The deal adds another fully owned property to PDG’s rapidly expanding hospitality, casino, and real estate portfolio. This includes the group’s acquisition of Great Canadian Casino Vancouver in Coquitlam and its joint partnership with the Musqueam Indian Band to acquire River Rock Casino Resort in Richmond, as well as the addition of about 80 hectares (198 acres) of federal land near the Vancouver Island University campus to its reserve lands in the area. The First Nation envisions redeveloping the area into residential, commercial, accommodations, entertainment, and light industrial uses.

PDG says it is concentrating on established properties capable of producing steady revenue, supporting employment and generating money that can be reinvested in the First Nation’s priorities.

PDG’s wider portfolio also includes businesses and investments in forestry, cannabis production and retail, tourism, transportation, logistics, fuel, and convenience retail.

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