Time Out Group has opened the doors on its 13th global food market, with Time Out Market Vancouver welcoming the public from Thursday at the high-profile Oakridge Park development.
The new site is the AIM-listed group’s second in Canada and, importantly for shareholders watching the unit economics, operates under a management agreement rather than soaking up capital.
At 51,000 sq ft, it will have 18 kitchens, a dessert counter, a coffee counter, three bars, event spaces and an outdoor terrace.
Oakridge Park is one of the largest urban redevelopments underway in North America, a five-million sq ft mixed-use scheme co-developed by QuadReal and Westbank, including more than 140 retail brands, 6,000 residents, 700,000 sq ft of office space, a major community centre and library, and half a dozen live music venues.
Time Out has made a real success of their markets, such as the one in Lisbon pictured above, and has become a hub for tourists and locals alike.
The firm plans to continue this strategy and roll out further sites.
Four sites are already signed for 2026 and beyond, taking in a franchise in Delhi and management agreements in Abu Dhabi, Prague and Riyadh, with more locations said to be in advanced negotiations.
Management agreements and franchise deals now make up the majority of the pipeline, a notable shift from the capital-intensive owned-and-operated model that defined the early years.