TORONTO — InnVest Hotels LP has acquired the luxury Toronto hotel formerly known as Trump International Hotel and Tower from JCF Capital for an undisclosed amount. The 65-storey, 261-room hotel will be rebranded as The St. Regis Toronto following a significant renovation.
“The acquisition of this landmark hotel is in line with InnVest’s long-term business strategy of acquiring high-quality luxury properties,” says Matthew Cornell, vice-president Investments at InnVest Hotels. “This acquisition underscores InnVest Hotels’ commitment to expanding and diversifying our portfolio across Canada.”
Prior to the full rebranding, the hotel will operate as The Adelaide Hotel Toronto while it undergoes a renovation of the lobby, guestrooms, public areas and food-and-beverage outlets.
The residences of the tower will be rebranded as The St. Regis Residences Toronto in early August when St. Regis takes over management of the condominium.
“This is the premium location in Canada and remains one of Toronto’s most highly sought-after real-estate opportunities,” says Jay Wolf, president of JCF Capital. “The St. Regis Residences will become the city’s most desirable residential address and, under InnVest Hotel’s stewardship, continue to deliver exceptional experiences to locals and visitors alike. We are very excited to partner with InnVest Hotels on this luxury property.”