Hilton Toronto Airport Hotel & Suites
Sales Date: June 2013
Client: Ivanhoé Cambridge
Cap Rate: 8.6%
The Hilton Toronto Airport Hotel & Suites is ideally located directly across from the Toronto Pearson International Airport, Canada’s busiest airport servicing almost 35.0 million passengers annually, with easy access to some of the City’s largest corporations such as Hershey, Bell, Target, Honeywell, Kellogg, and IBM. The Hotel is also conveniently located between two major area demand generators, the Toronto Congress Center and International Center. The Property is comprised of a north and south tower connected by a two-storey building with a total footprint of approximately 305,000 SF. Guest rooms and suites are located in the two towers with the two-storey section encompassing 23,000 SF of meeting space including a 10,000 SF ballroom which can seat up to almost 1,000 people, office and retail space, and Bliss Restaurant & Bar. Colliers sold the Hotel on behalf of Ivanhoé Cambridge to the Silver Hotel Group, one of Canada’s leading privately owned hotel investment, development, and management companies.