Cadillac Fairview, the company that owns downtown’s Pacific Centre, has announced plans to introduce a new luxury hotel that will replace Vancouver’s Four Seasons Hotel when it closes later this month.

The commercial property owner revealed it will be bringing a new luxury hospitality and entertainment offering when the current hotel chain ceases operations after more than four decades.

The name and brand of the new hotel has not been disclosed.

“With today’s announcement we are once again contributing to the fabric of the city by introducing an exciting and vibrant hospitality concept to our landmark property that will solidify it as the destination of choice in downtown Vancouver,” Tom Knoepfel, senior vice president of Cadillac Fairview’s western portfolio, said in a press statement.

"CF Pacific Centre will be home to a leading global hotel and entertainment brand that will be unique not only in Vancouver, but the rest of Canada,” Knoepfel added. “We look forward to providing more details about this exciting project in the near future.”

Preliminary work on the new property is slated to begin this spring.

The Four Seasons Hotel Vancouver has been a leading luxury hotel in the city since it opened in 1976, and it’s the only property still owned and managed by Four Seasons Hotels and Resorts. It has chosen not to renew its lease, which ends on January 31.

It’s also home to the popular dining establishment Yew Seafood + Bar, which will simultaneously close its doors when the hotel closes and the last guests leave on January 20. 

The restaurant's last service is breakfast on January 20, so food-lovers have a few more days to make their final visits and enjoy its menu offerings.