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Templar Hotel rumoured to be up for sale

Posted by Natalia Manzocco / April 17, 2014

templar hotelThe most secretive boutique hotel in Toronto looks to have fallen on hard times. Rumours are swirling that the Templar Hotel, located at 348 Adelaide St. W., has fallen into a power of sale after the hotel's mortgage fell into arrears, with an initial list price of $13 million.

The Templar has never exactly been stable. The tiny boutique hotel, at just 27 rooms, has only been open for about two years, but was conceived way back in 2000 and spent much of the next decade as a half-finished concrete shell. After about eight years of protracted, on-again off-again construction, it finally opened in 2012, quickly becoming a popular destination for big brands renting out the hotel space for events. The splashiest example: Target's takeover at TIFF 2012.

Though the mortgage-holder now has the power to sell off the hotel, it appears to be business as usual for now, with the hotel still accepting reservations - though the schedule is looking pretty open.

Discussion

4 Comments

Nelson Muntz / April 17, 2014 at 02:52 pm
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Haw Haw!
John / April 17, 2014 at 07:15 pm
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Maybe charging $600 a night for hotel room doesn't work for most people?

Odd since Mayor Ford keeps telling me the city of Toronto is booming.
robert bennett / April 18, 2014 at 05:44 pm
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Does anyone have a link to the sales listing?
Eric / May 2, 2014 at 02:46 am
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With a price tag of $600/ day, it's going to go bankrupt quite easily. That price is way to high.

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