By SHANNON KELLY
Toronto’s iconic Sutton Place Hotel, a home away from home for Hollywood A-listers in its heyday, has been sold to a luxury condo developer and will close June 15 after 45 years in business.
The once-grand hotel, which traditionally hosted the annual Toronto International Film Festival press conferences (TIFF operations moved to new headquarters in the Entertainment District in 2010), has started looking down at the heels in recent years, especially with the flurry of new luxury hotels opening in the city: the Thompson Hotel in 2010, the Ritz-Carlton in 2011 and the Trump International Hotel this year. Still slated to open in 2012 are a new Four Seasons and a Shangri-La.
Lanterra Developments is considering opening a boutique hotel in addition to carving out 600 or so condo units, but nothing is firm yet.
Until the hotel closes, rates have dropped to $126 per night for basic rooms (previous rack rates were approximately $190 and up), and rates on all rooms have been reduced by about 40 per cent per night.