Yahoo Finance Trump Toronto hotel on sale for $298 million. Sad!
If you’re in the market for a luxury hotel embroiled in controversy, have we got a deal for you.
Trump International Hotel & Tower Toronto is officially on the market, and is listed for a minimum price of $298 million. That price includes the 211 hotel rooms, 74 condominium units and most of the retail, commercial and amenity space on the property at 325 Bay St., according to CBRE Ltd., who is representing the sale.
“Opportunities to acquire such a prominent trophy asset in Toronto’s financial core are extremely rare,” said Bill Stone, Executive Vice President of CBRE Hotels in a statement.
94 of the condominium units in the building are not part of the sale, The Globe and Mail reports.
The hotel, which opened in 2012, has faced increasingly stiff competition as Toronto’s luxury hotel market grows. Within a few blocks of the Trump International Hotel are major chain competitors including the Fairmont Royal York, the Shangri-La Hotel, One King West Hotel & Residence, Hilton Toronto and the Omni King Edward.
Further issues have arisen with the Trump International Hotel in its nearly five years in the city, including falling glass from the tower, an “unstable antenna” that forced officials to close city streets, and accusations of racism at its flagship restaurant, America.
The 65-storey building is located in the centre of Toronto’s financial district.
