Search
  • Daniel Foch

W hotel is finally coming to Toronto, in a deal by Marriott International


Toronto's luxury hotel market is about introduce a new competitor to the ring, in W Hotels. This long-rumoured and much-anticipated deal gives Marriott International some intimate exposure to Yorkville, expanding luxury presence in the Toronto market outside of downtown, where they've not placed a luxury banner outside the Marriott banner.


Marriott is no stranger to large, sophisticated transactions of this nature, as proven by their Ritz-Carlton Toronto development and their subsequent takeover of the Trump Hotel Toronto site with the St. Regis brand. This will be the second W Hotel in Canada, after Montreal.


The luxury hotel will unseat Marriott's existing 255-room property at 90 Bloor St. East in Yorkville through a $40 million renovation and design transformation, which is already underway as of July, 2019.


The introduction of the W seems to allude toward corporate capital accepting the reality most Torontonians already accept: young money plays a real role here. No, that's not a reference to the Young Money anthem "Bedrock", although it does conveniently reference W Hotels.


W Hotels are well known for their success in creating a captive market of the often-promiscuous millennial luxury clientele.


Paul Cahill, Area Vice President of Eastern Canada for Marriott International, released the following statement:


"We are applying a unique, vibrant sensibility to the upcoming W Toronto, one that has not been seen before in Toronto. The exciting evolution of this property into Toronto’s first W hotel is consistent with the ongoing evolution of this Toronto neighbourhood whose vibrancy, sophistication, and density continues to grow. This is a strategic location for the brand, and we foresee it welcoming international business and leisure travellers, but also becoming a destination for urban thrill-seekers.”


As financiers with a track record in the hotel space, we're excited to see this transaction develop, and move the needle on the Toronto luxury hotel space with it.





79 views

1 King St. W., Suite 4800 Toronto, ON M5H 1A1
info@avinacapital.ca  |   1 (866) 284-6221

FSRA License No. 13190 

© 2020 Avina Capital Inc.

  • LinkedIn - Black Circle