There’s a new luxury hotel opening in Toronto, and it will be housed in the tallest building in Canada.
According to Canadian developer Mizrahi Developments and global hospitality company Hyatt, the first Andaz hotel in Toronto will be located within The One, at 1 Bloor Street West.
The One will be a commercial and residential luxury mixed-use tower that is expected to be the tallest building in Canada.
- Construction begins on Canada’s largest residential building in Toronto
- Google Earth releases timelapse of Toronto over the last 35 years (VIDEO)
- Due to strong tourism, new hotel building boom expected in Canada: report
Slated for opening in 2022, Andaz Toronto – Yorkville will feature a 160-room luxury hotel and will occupy floors four through 16 of the mixed-use tower. It will offer more than 15 luxury suites, plus more than 12,000-sq-ft of event and conference space, food and beverage experiences, a spa, and more.
“It is an honor to announce this prestigious and significant project with Hyatt,” said Sam Mizrahi, president of Mizrahi Developments.
“It validates almost a decade of vision and hard work by the collective team, and it is a true testament to Toronto’s growing importance on the global scene.”
Mizrahi also said that not only does The One set a new benchmark for Toronto, but also for Canada as a whole.
“We are excited to have the iconic Andaz brand on board as we forge ahead on this extraordinary project.”
Last month, the Colliers International’s new 2019 Canadian Hotel Investment Report stated that the Canadian hotel industry is currently amidst one of the most profitable periods for hotel owners in the last 30 years.
Additionally, the hotel industry is currently eight years into the upswing cycle and has been deemed in an “enviable position” that continues to entice interest from global investors.