The SSS Manhao International Tourism Group plans to use the hotel as a drop-off point for about 70,000 customers a year arriving on package tours from China.
The Mayor of Nanaimo John Ruttan has said the hotel deal hinges on the provision of a new fast ferry service between Vancouver and the hub city.
But the CEO of Nanaimo's Economic Development Corporation Sasha Angus says he's optimistic there will be a new ferry service announced soon, but it's not a deal-breaker for the hotel.
"I know the Chinese group that the mayor referred to has looked at a host of different logistics as far as getting people to and from the island, and are comfortable with what currently exists," said Angus.
Nevertheless Angus has been working with a group of private investors that's planning a downtown–to-downtown run between Nanaimo and Vancouver.
"I think a new fast ferry service would be a feather in our cap that way to bring more visitors to the community and more people to enjoy what we have to offer from a tourist perspective."
Nanaimo had two private ferry services in the past, but one closed after one year of operation and the other closed a little after one year in business.
Nevertheless, Angus believes this time around, a foot passenger ferry will be economically viable.
"It's private sector-led and folks that have strong backgrounds in the sector and perhaps have learned from mistakes of the past."