TORONTO — Northland Properties has acquired the King Blue Hotel in Toronto from Greenland Canada. The hotel is in its final stage of construction and expected to open this fall.
King Blue Hotel is located within the seven-storey tower of the King Blue Condominium Complex, and its front-facing exterior encompasses the original six-storeys of the Canadian Westinghouse Company Building built in 1927.
“Northland’s acquisition of the King Blue Hotel is a great addition to our family-owned portfolio of hotels, restaurants, resorts and sports assets,” says Tom Gaglardi, CEO of Northland Properties Corporation. “With an existing collection of 60 hotels across five countries, this impressively constructed hotel serves as a landmark expansion at an important address in Toronto’s Entertainment District.”
“We’re pleased to have completed the final stage of this exciting development and wish Northland much success with the hotel,” says Henry Cao, general manager of Greenland Group Canada. “It’s a special location in such a culturally dynamic city, and the hotel will be a great addition to the Toronto market for both business and leisure guests. Greenland is proud for its first project in Canada to be recognized by a market leader like Northland Properties. We hope to continue to develop and deliver more properties in Canada.”