TORONTO — Cadillac Fairview has acquired the interest of Simcoe Wellington Hotel Limited Partnership, making it the 100-per-cent owner of The Ritz-Carlton, Toronto. As part of this transaction, Marriott International will continue to operate the hotel under The Ritz-Carlton brand.
“As one of the original developers of The Ritz-Carlton, Toronto, we are proud to increase our ownership interest in one of Toronto’s premier luxury hotels,” says John Sullivan, president and CEO, Cadillac Fairview. “We view The Ritz-Carlton, Toronto hotel as a strong complementary asset to our office portfolio in the vicinity.”
Opened in February 2011, the 53-storey building comprises 20 floors featuring 263 luxury rooms, 13,000 sq. ft. of meeting space, 33 floors dedicated to private Ritz-Carlton Residences and fine-dining options at TOCA, DEQ Terrace and Lounge and the Ritz Bar.