The Park Hyatt is probably about to be sold
Like the Royal York before it, Toronto’s Park Hyatt hotel is now up for grabs. According to the Financial Post, Hyatt is on the verge of selling the high-end Yorkville property, located at the corner of Bloor Street and Avenue Road, to an unnamed buyer for a price that is rumoured to be upwards of $100 million. The sale would reportedly be conditional on the building remaining a Hyatt for at least 40 years. The potential buyer’s plans for the property haven’t been made public, but the Post’s sources say it’s likely that the hotel’s rooms would be enlarged, and that some luxury condo units could be added to the mix. There’s been no word on the likely fate of the roof lounge, either, so enjoy it while you can.
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Like the Royal York before it, Toronto's Park Hyatt hotel is now up for grabs. According to the Financial Post, Hyatt is on the verge of selling the high-end Yorkville property, located at the corner of Bloor Street and Avenue Road, to an unnamed buyer for a price that is rumoured to be upwards of $100 million. The sale would reportedly be conditional on the building remaining a Hyatt for at least 40 years. The potential buyer's plans for the property haven't been made public, but the Post’s sources say it's likely that the hotel's rooms would be enlarged, and that some luxury condo units could be added to the mix. There's been no word on the likely fate of the roof lounge, either, so enjoy it while you can.){kind=link}
I bid $10
Hotels as a standalone entity are unprofitable these days. They can only exist as part of a complex including retail, residential or office.