We will be travelling ANC-YVR-YYZ. To avoid a redeye, we have a 12-hour layover in YVR, and plan to spend the night at the Sheraton Gateway in the airport.
My questions are: What happens to checked baggage during the long layover? Will we have access to it, or will it be checked through for the next morning's flight? If we will have access to baggage during the layover, will we have to pay a second bag fee to re-check it for the YVR-YYZ leg? If it matters, we have no status on AC.

Thanks!