Pacific Reach and Dilawri Group have acquired The Ritz-Carlton, Toronto, an iconic luxury hotel located in the heart of downtown at 181 Wellington Street West.
The 53-storey hotel-condo tower opened in 2011 as one of Toronto’s first true five-star hotels, boasting over 260 guest rooms, more than 150 condominium units, a spa, fitness centre, and upscale restaurants, according to a press release. The new owners plan to enhance the hotel’s guest experience with upgrades to the spa, wellness amenities, common areas, and conferencing spaces, ensuring the hotel continues to cater to both business and leisure visitors with premium services and culinary offerings. Marriott International will continue managing the property under The Ritz-Carlton brand without disruption.
This acquisition signals confidence in Toronto’s growing luxury hospitality sector, with the hotel’s prime location steps from the CN Tower, King West nightlife, and the Toronto International Film Festival (TIFF) district drawing celebrities, international visitors, and food lovers alike. The Ritz-Carlton’s restaurants have long been a key part of its appeal, offering refined dining experiences that complement its status as a cultural and business hub.
Pacific Reach will act as asset manager while Dilawri focuses on strategic upgrades, aiming to build on the hotel’s legacy as a prestigious downtown landmark. Though the purchase price remains undisclosed, industry estimates suggest it was among Canada’s priciest real estate deals on a per-room basis, underscoring the property’s trophy status. With planned enhancements and a continued focus on luxury dining and wellness, The Ritz-Carlton Toronto appears poised to embark on an exciting new chapter.
“We are thrilled to acquire The Ritz-Carlton, Toronto and leverage our years of experience owning and operating luxury hospitality assets, including the Rosewood Hotel Georgia, to build on the exceptional reputation of The Ritz-Carlton, Toronto,” Azim Jamal, CEO and Founder of Pacific Reach, said in a press release. “This partnership with Dilawri represents our shared vision of excellence, as we take steps to further enrich the guest experience and continue the Ritz-Carlton’s legacy as one of the most prestigious luxury hotels in Canada.”
