One of Toronto's most central hotels frequented by celebrities is about to get a major makeover.

The building at 550 Wellington owned by Mohari will soon no longer be Thompson Hotel. Mohari is working in partnership with 1 Hotels to develop their new Toronto location.

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"1 Hotel Toronto will introduce the city to a new standard for an eco-conscious luxury experience and is the first of its kind in Canada," says Barry Sternlicht, 1 Hotels founder and CEO and chairman of Starwood Capital Group.

The brand that's been around since 2015 currently has four US hotels, known for their sustainable vision, connection with local communities and use of repurposed materials for construction.

Seven other projects in places like China, Australia, France and Mexico are also under development.

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"We're excited to be partnering with 1 Hotels to open this luxury hotel and brand in the heart of Toronto," says Mark Scheinberg, founder of Mohari Hospitality. "At Mohari, we look for innovative projects that are changing the hospitality market and 1 Hotel Toronto perfectly fits that mould."

The new 1 Hotel Toronto is slated to open summer 2020, but it'll be business as usual at the Thompson until renovations begin.