Politicians, celebrities, movie stars,financial gurus you name it have stayed at the King Edward Hotel located on the south side of King Street East at Victoria Street steps away from Toronto’s financial district built by George Gooderham of Gooderham and Worts Distillery opened its doors on May 11,1903. Now under new ownership to Skyline Hotels & Resorts, this architectural and cultural icon the hospitality division of Skyline International Development, has signed a deal to assume management of The King Edward Hotel in July, and has planned a major revamp of the 109-year-old Toronto property.
“We have been closely engaged with The King Edward Hotel and its operations team since it was purchased in March of 2010,” said Kevin Toth, president and COO, Skyline Hotels & Resorts. “While in some ways this is a natural progression for Skyline, our new role here also speaks to how we are expanding as a hotel and resort collection and our company’s expertise in real estate and historic assets.”
Skyline will look to transform,rejuvenate and re-open for business the hotel’s third, fourth and fifth floors and transform them into private residences, slated for completion in 2013 and will become The King Edward Private Residences. Additionally, the company plans to renovate guest room accomodations and public spaces that will preserve the beauty of the past while making the most of modern design and world class amenities, including the penthouse level Crystal Ballroom, which has been closed since the 1950s. This new management agreement builds on Skyline’s existing role as asset manager of the hotel on behalf of Canadian ownership group King Edward Realty Inc., in which it has a stake.