The Fairmont Royal York Hotel, formerly the Royal York Hotel and still often so called, is a large and historic hotel in downtown Toronto, Ontario, Canada, at 100 Front Street West. Opened on June 11, 1929, the Royal York was designed by Ross and Macdonald (with Sproatt and Rolph) and built by the Canadian Pacific Railway across the street from Union Station. With 28 floors, the Château-style building was the tallest building in Toronto at that time, and the tallest building in the British Empire until the construction of Canadian Bank of Commerce tower on King Street the following year. On October 28, 2014, It was announced The landmark Royal York Hotel in Toronto will undergo another round of renovations following a reorganization of its ownership.
A fund managed by the KingSett real estate company will acquire a 60 per cent interest worth an estimated $111.9 million and InnVest Real Estate Investment Trust (TSX:INN.UN) will pay $37.3 million for a 20 per cent stake in the hotel.
The Caisse de depot’s real estate subsidiary Ivanhoe Cambridge will retain a 20 per cent stake in the 1,363-room hotel as a joint venture partner through a $186.5-million deal announced Tuesday.