TORONTO, June 4, 2018 /CNW/ - Cadillac Fairview is pleased to announce it has acquired the interest of Simcoe Wellington Hotel Limited Partnership, making it the 100% owner of The Ritz-Carlton, Toronto. As part of this transaction, Marriott International will continue to operate the hotel under The Ritz-Carlton brand.
"As one of the original developers of The Ritz-Carlton, Toronto, we are proud to increase our ownership interest in one of Toronto's premier luxury hotels," said John Sullivan, President and CEO, Cadillac Fairview. "Located at the intersection of the financial, entertainment and waterfront districts, we view The Ritz-Carlton, Toronto hotel as a strong complementary asset to our office portfolio in the vicinity, including Simcoe Place, RBC Centre and one future office site at 160 Front St."
Opened in February 2011, the 53 story building comprises 20 floors featuring 263 luxury rooms, 33 floors dedicated to private Ritz-Carlton Residences and fine dining options at TOCA, DEQ Terrace and Lounge and the Ritz Bar. The Ritz-Carlton, Toronto is recognized as one of the top luxury hotels in Canada, as demonstrated by its Forbes Five Star Award & CAA/AAA Five Diamond Award. The hotel is a preferred location in the luxury group market for high profile meetings, with 13,000 square feet of meeting space, and is recognized as the main luxury hotel hub for the entertainment business for the Toronto International Film Festival activities.
In addition to its premier meeting facilities and restaurants, the hotel is well known for its spa, Spa My Blend by Clarins, which has been awarded Travel+Leisure #1 Hotel Spa in the world, Forbes Four Star Award, and CAA/AAA Four Diamond Award. It also offers an exclusive luxury club floor, with complimentary culinary selections and a dedicated concierge. For more information, please visit www.ritzcarlton.com/en/hotels/canada/toronto.
About Cadillac Fairview
Cadillac Fairview is one of the largest owners, operators and developers of best-in-class office, retail and mixed-use properties in North America. The Cadillac Fairview portfolio is owned by the Ontario Teachers' Pension Plan, a diversified global investor which administers the pensions of more than 323,000 active and retired school teachers. The real estate portfolio also includes investments in retail, mixed-use and industrial real estate in Brazil, Colombia and Mexico.
Valued at around $29 billion, the Canadian portfolio includes over 37 million square feet of leasable space at 67 properties in Canada, including landmark developments, such as Toronto-Dominion Centre, CF Toronto Eaton Centre, CF Pacific Centre, CF Chinook Centre, Tour Deloitte and CF Carrefour Laval.
SOURCE Cadillac Fairview Corporation Limited
For further information: Media Contacts: Anna Ng, Cadillac Fairview, 416-598-8246, [email protected]