CBRE Hotels Arranges Sale of Sheraton Centre Toronto

Sold: October 2017

Sheraton​ Centre Toronto

123 Queen Street​ West | Toronto, ON


  • CBRE Hotels was retained by an affiliate of Marriott International Inc., to globally market the 1,372-room, 4-star Sheraton Centre Toronto.

  • An iconic hotel within Toronto’s financial core with a direct connection to the world’s largest underground retail system, the Sheraton Centre is the largest convention hotel in the city with upwards of 130,000 sq. ft. of function and pre-function space.

  • The Hotel undertook a comprehensive $110 million capital refurbishment program during the active marketing phase, positioning the Hotel for immediate rate upside and a return to historically strong occupancy levels.

  • Already a leading upper upscale international brand, the acquisition of Starwood Hotels & Resorts by Marriott International enabled Sheraton-branded properties to benefit from over 100 million combined loyalty members with Marriott Rewards, The Ritz-Carlton Rewards and Starwood Preferred Guest.



  • ​CBRE Hotels brought local market knowledge to the process and through collaboration with Capital Markets’ colleagues throughout North America, Asia and the EMEA, achieved global market reach.

  • The team worked with the client to convey the operational and financial metrics of a leasehold property in the midst of a substantial renovation against the tremendous opportunity to acquire one of Toronto’s most significant hotels.

  • With the sales undertaking occurring during Marriott’s acquisition of Starwood, CBRE worked diligently with the client to provide meaningful updates to the investment community to ensure continued deal momentum.

  • Marketing efforts garnered multiple offers, with the team assisting the client in selecting the strongest offer in terms of asset purchase, long term management terms and purchaser’s wherewithal to close.

  • The trade represents the largest single hotel transaction in Canadian history.

​​​ASSET PRO​​​FILE​ ​ ​







Approxi​​mately 2.0 acres


1,372, incl​uding 68 suites


  • ​BnB B​​istro and Bar
  • Quinn’s Steakhouse & Irish Bar
  • Shopsy’s Deli
  • Link Café


​100,000 sq. ft., plus 30,000 sq. ft. of pre-function space


  • Club Lounge
  • Indoor-outdoor pool
  • Fitness centre
  • Link@SheratonSM
  • 44,029 sq. ft. of retail space (Ground Level and PATH)
  • 24,915 sq. ft. of office space
  • 13,213 sq. ft. Cambridge Club​



​​Marriott International




​$335 million

For more information, please contact one of the following CBRE Hotels' professionals:

Bill ​Stone**            
Executive Vice President
+1 416 815 2371
Scott Duff*            
Vice President
+1 416 815 2313
Deborah Borotsik*
Vice President
+1 416 815 2347 
Greg Kwong**            
Regional Managing Director, AB
+1 403 750 0514
Karina Saks*            
Financial Analyst
+1 416 847 3243

*Sales Representative **Broker​