sheraton centre hotel toronto

Toronto's Sheraton Centre hotel just sold for $335 million

In what is a surprise to probably nobody, it turns out hotels can sell for a ton of money.

The newest mind-blowingly-large sale is the Sheraton Centre Hotel in Toronto. The iconic building was just bought by Brookfield Asset Management for a whopping $335 million.

According to BNN, the sale is a record for hotel sales in Canada. Who would have guessed that a third of a billion dollars would be record-breaking?

The deal is a short, vaguely-worded document that doesn’t give away too many details. However, it is known that Marriott, the current owner of the Sheraton, will retain the long-term land lease and management of the hotel.

What was also noticeably revealed is that the lobby will undergo a large renovation. That's good news for everybody, as the busy hub functions almost like a public space and is a great spot to work on the fly if you need a power outlet.

This comes on the heels of a $120-million renovation to the rooms and other areas just recently.

Many of the details are still under wraps, but it’ll be exciting to see what changes come to the lobby and other areas as the hotel gets a makeover.

Lead photo by

Sheraton Centre Toronto


Join the conversation Load comments

Latest in City

Someone returned a wallet in Toronto with $600 and credit cards in it

Ontario companies are introducing 4-day work weeks in response to modern life

People band together to rescue raccoon stuck in roof near Toronto

Toronto man finds a piece of history underneath the floor of his home

This is when face masks will no longer be required in Ontario

Man says police took him down for not wearing a mask in Mississauga

The premier just gave Ontario a hilarious new Fordism and it's one for the ages

Ontario capacity limits lifted but some health measures to stay in place until 2022