The mothballed Pacific Inn Resort hotel in Surrey, B.C., will be reborn, the Daiily Hive Urbanized reported.

Located near Semiahmoo Shopping Centre, the building is affectionately known as the Pink Palace Hotel because of its former distinctive colour. The building has since been painted white.

Realtor Rishi Dhir told the Daily Hive that the hotel has been sold to an unidentified buyer for $18 million, well down from $30-million listing price.

“The plans are at this point to revive it as a hotel,” Dhir told the Daily Hive.

The property had been on the market since December and was used to shoot movies and TV shows in recent years.

The five-storey building, built in 1992, spans about 136,000 square feet on a 4.8-acre site. The hotel includes 150 guest rooms, 10,000 sf of meeting space, and a glass-covered indoor atrium courtyard.

According to the Surrey Now-Leader, the Pink Palace was set for a $25 million renovation in 2018. However, after closing for the anticipated upgrades, the hotel was converted into the Pink Palace Film Studios.

From late 2019 to early 2020, it served as a filming location for a horror Web series based on Stephen King’s The Stand, starring Whoopi Goldberg and Alexander Skarsgård.

The site has also been used for such productions as Riverdale, Batwoman, and Van Helsing.

Photo: Pacific Inn Resort