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Royal York Hotel put up for sale

Posted by Derek Flack / May 30, 2014

Royal York Hotel SaleThe Royal York, Toronto's most iconic hotel, is up for sale, as the Caisse de dépôt et placement du Québec continues to unload its hotel properties. Built in 1929 and a fixture on the Toronto skyline throughout the 20th century, it's not yet clear what the asking price is, but you know it will be astronomical given the size and stature of the hotel. Will new ownership usher in changes at the historic property?

One would expect updates to be a priority for a new owner, though management of the hotel will remain in the hands of Fairmont, which the Globe reports has a contract to operate the hotel for decades. That means the red sign that adorns the top of the building will likely stay in place, for those (like me) who care about these sorts of things. Apparently 200 of the 1,363 rooms at the Royal York have been recently renovated. A new owner would have to continue these modernization efforts in order to draw more business in an increasingly competitive hotel market.

Photo by Phil Marion

Discussion

50 Comments

iSkyscraper / May 30, 2014 at 09:43 am
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Understand that the ownership is relatively meaningless. The appearance and functions of the hotel are governed entirely, and in tremendous detail, by the Operating Agreement with the flag, in this case Fairmont. The owner is just the invisible entity that puts up cash when Fairmont requires it (most contracts call for periodic capital investment for new FF&E, etc.) and collects some version of the profits (probably a set percentage).

Some pension fund will probably snap it up. Without a change in the operator, this is not really news.
stonerjones / May 30, 2014 at 09:54 am
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turn it into a loblaws
Ugh / May 30, 2014 at 10:03 am
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Make it a condo! But preserve the facade! Royal York Condos...historical luxury living in the heart of Toronto.
Jason Paris replying to a comment from stonerjones / May 30, 2014 at 10:05 am
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stonerjones -So you comment on articles without reading them?
Haters gotta hate / May 30, 2014 at 10:22 am
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There will be the same mouth-breathing knee-jerk cretins pollute these boards as attack all others. Hate condos. Hate Toronto. Hate everything. Hate hate hate yadda yadda. Ignore them.
Todd Toronto / May 30, 2014 at 10:42 am
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It is kind of cool (and random) that two of the world's luxury hotel chains are based in Toronto.

ThePeej / May 30, 2014 at 10:52 am
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I'm actually confused by the notion that the Red Sign is somehow iconic or historically valuable. It's (relatively) brand new! Anyone can stick another "Old Timey" looking sign up there and you'll grow to feel it's "classic and iconic" in no time. Remember, it was only a few years ago that the "Fairmont" was added (and the Royal York reduced in size) and lord knows the hotel operated for some time with no brash Neon hanging off of it. Humans are funny creatures, with their nostalgia. :^)
W. K. Lis / May 30, 2014 at 11:18 am
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Follow Detroit's lead, and turn it into a parking garage for all the single occupant automobiles who continue to drive in instead of taking the GO trains.
Safe Hands / May 30, 2014 at 11:20 am
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Kathleen Wynne will buy it!!
Taylor replying to a comment from Ugh / May 30, 2014 at 11:29 am
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Royal York condos?! Heard there's a ton of bed bugs in that old hotel...
Casino! / May 30, 2014 at 11:38 am
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Tear this sucker down, new site for Toronto Casino!
DL replying to a comment from ThePeej / May 30, 2014 at 11:45 am
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Put the Sam the Record Man sign on it!

And hang the Honest Ed's one off Union Station.
Libs / May 30, 2014 at 11:52 am
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Kathleen Wynne has already signed a deal on this. More to come at 6pm.
Tim Hudak, M. Economics / May 30, 2014 at 01:09 pm
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!1 Million Jobs! will include the hours spent by women working for hotel guests at an hourly rate. Therefore, my party will turn the Royal York into a giant whorehouse, counting each hour "worked" as a job created, resulting in the creation of 5 million jobs just in the Royal York over 8 years. That is, if you count a certain kind of "job" as a job.
Tim Hudak, M. Economics / May 30, 2014 at 01:11 pm
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Man! Five million "jobs"! Hotel management better order a lotta mops!
Rick replying to a comment from Tim Hudak, M. Economics / May 30, 2014 at 02:31 pm
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Actually, how about you just open your mouth? No need for mops! plus you can get a meal out of it which I'm sure you susisted on countless times before.
Debt / May 30, 2014 at 03:02 pm
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Open your wallets, folks. Kathleen Wynne is on another spending spree. Our provinces debt has already skyrocket under the Liberals guard, and it isn't over yet.
Hunh? / May 30, 2014 at 03:12 pm
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Rick, what does 'susisted' mean?
Rick replying to a comment from Debt / May 30, 2014 at 03:12 pm
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This has absolutly nothing to do with Kathleen Wynne or the Libtards - Why even bring it up.

You get the loser of the day award - Loser.
Rick replying to a comment from Hunh? / May 30, 2014 at 03:14 pm
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Missed a B. Thanks for pointing that out - are you a loner?
Debt replying to a comment from Rick / May 30, 2014 at 03:15 pm
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Ohh but I see your OK commenting on Hudak. Hypocrite!
Rick replying to a comment from Debt / May 30, 2014 at 04:20 pm
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your IP address needs to be banished from posting. Get a life you walking fail.
Tim Hudak, M. Economics / May 30, 2014 at 06:06 pm
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Hmmm...Loser...loner...walking fail...Congratulations on finally completing Grade 6! We are all impressed! Here's 3 wows just for you, Dick/Prick: Wow!Wow!Wow!
IP Banner replying to a comment from Rick / May 30, 2014 at 10:51 pm
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BlogTO can't silence the truth by banning IP addresses! VPNs rule, static IPs drool!
Debt replying to a comment from Rick / May 30, 2014 at 11:49 pm
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YES don't try and hide behind a ban.
Guy / May 31, 2014 at 12:38 am
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I'm assuming that Rick is ironic. It's like he tries really hard to be a dick but he's not even smart enough to be good at that.
Tim Hudak, M. Economics / May 31, 2014 at 01:12 am
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As pointed out previously, Rick missed more than a 'B': he missed the 'P' that is the actual first letter of his name; his parents knew his limited nature, preternaturally naming him, partially, with the diminutive 'Dick'.
Stop the political crap here / May 31, 2014 at 01:19 am
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I really hate people who turn these discussion panels into meaningless rants about one of the political parties. It is so juvenile.
Stop the political... / May 31, 2014 at 11:20 am
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But less juvenile than little ripostes like yours and (P)Rick's. Don't worry, this will all be over June 13/October 28 and you can go back to your apolitical, non-voting, zombie life. Or you can learn to skip over or ignore comments that don't interest you, like most adults.
@Stop the political... / May 31, 2014 at 11:25 am
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How dare you assume I am apolitical, or do not vote? I'm merely pointing out that these childish (yes CHILDISH) have NOTHING to do with the subject of this article. Grow up and stop with the paranoid accusations about someone you know nothing of.
Kathleen Wynne / May 31, 2014 at 11:27 am
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Referring to Hudak's comment above, since there are already 5 million "jobs" at the Royal York over an 8 year period, these are NOT new "jobs"! Typical conservative double talk!
@@Stop the political... / May 31, 2014 at 11:33 am
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Incoherent much? "How dare I...";; "Someone you know nothing of". You do know everyone on the internet "dares" and no one "knows" anyone? You don't think that all this is real...or do you?
Smug, smug, smug / May 31, 2014 at 01:01 pm
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As a supporter of the S.M.U.G. Party (Society of Mendacity UnderGround), to just what political cause are you referring? We espouse no cause and are the genetic spawn of the Rhinoceros paty. "Always with a little humour, Comrade."
Nice try / May 31, 2014 at 01:31 pm
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Nice try at saving face smug one, but you fail. lolz! Go back to ranting about Hudak in other forums. He is going to handily lose the election anyway.

Now, if there are any adults in the room who are not losers living in their parents basement, maybe we could discuss the Royal York some more.
Royal York / May 31, 2014 at 03:01 pm
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The Royal York is a building.
Royal York / May 31, 2014 at 03:02 pm
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It is a hotel.
Royal York / May 31, 2014 at 03:03 pm
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It is a nice hotel.
Royal York / May 31, 2014 at 03:03 pm
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I like nice hotels.
Royal York / May 31, 2014 at 03:04 pm
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It is in Toronto.
Royal York / May 31, 2014 at 03:06 pm
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It's boring to talk about.
Tim Hudak, M. Economics / May 31, 2014 at 03:08 pm
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Living in a parent's basement is a destination for many civil servants.
Royal York / May 31, 2014 at 03:11 pm
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The Royal York has a nice basement. I have centipedes in my basement.
Royal York / May 31, 2014 at 05:14 pm
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The Royal York has centipedes in its basement. Therefore, I live in the Royal York.
Royal York / May 31, 2014 at 05:16 pm
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My hotel is for sale....because of the centipedes in the basement.
what the?? / June 1, 2014 at 01:27 am
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Was it you that I saw drooling on the subway last Tuesday night, Royal Dork? This man was blithering away and appeared to be having a heated argument with himself. He had the whole back of the subway car to himself.
Royal Dork / June 1, 2014 at 09:03 am
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Why...yes, it was me. We posed for a Ford-like selfie at your request and then you 'serviced' me. You need to practice that, by the way, you are awful-no skill at all.
Simon Tarses replying to a comment from Ugh / June 2, 2014 at 02:23 pm
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No, please, NO! We have enough of those as it is.

Build these things in some other part of Toronto for a change.
Tim Hudak, M. Economics / June 2, 2014 at 04:56 pm
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Jobs!Jobs!Jobs!!1,000,000! Jobs! I didn't say what kind of jobs! Vote for me and the whole province will be one huge whorehouse! Jobs everywhere! Every Ontarioian will have a "job"!
Tim Hudak, M. Economics / June 6, 2014 at 08:02 pm
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I'm so smart, you're so dumb, I will leave you, a few crumbs, see! I'm so smart, vote for ME, I'll let you
...pee!
Doug Ford / June 7, 2014 at 11:13 pm
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Muscle spasms! Apollo! Donnelly!

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