TORONTO — Skyline Hotels & Resorts, the hospitality division of Skyline International Development, has signed a deal to assume management of The King Edward Hotel in July, and has planned a major revamp of the 109-year-old Toronto property.
“We have been closely engaged with The King Edward Hotel and its operations team since it was purchased in March of 2010,” said Kevin Toth, president and COO, Skyline Hotels & Resorts. “While in some ways this is a natural progression for Skyline, our new role here also speaks to how we are expanding as a hotel and resort collection and our company’s expertise in real estate and historic assets.”
Skyline’s first order of business will be to re-open the hotel’s third, fourth and fifth floors and transform them into private residences, slated for completion in 2013. Additionally, the company plans to renovate accommodations and public spaces, including the penthouse level Crystal Ballroom, which has been closed since the 1950s.
This new management agreement builds on Skyline’s existing role as asset manager of the hotel on behalf of Canadian ownership group King Edward Realty Inc., in which it has a stake.