Manga Hotels buys Cambridge Suites Toronto in downtown acquisition

Located at Yonge and Richmond streets, the 23-storey hotel sits within the city’s financial district and is connected to the PATH underground pedestrian network. The property is close to attractions such as the Eaton Centre, CN Tower, Hockey Hall of Fame, Ed Mirvish Theatre and St. Lawrence Market.

The deal marks Manga Hotels’ second downtown Toronto property this year, following the opening of TOOR Hotel Toronto. The company, which operates 34 properties in Canada and the United States, has four more projects underway in Toronto’s core, including a 280-room Hyatt House at Spadina Avenue and Queen Street.

“This acquisition reinforces our commitment to growing in Toronto’s core and allows us to continue offering guests more choice, comfort, and convenience in one of the country’s most dynamic destinations,” says Sukhdev Toor, president and chief executive of Manga Hotel Group.

Cambridge Suites features three suite types — Deluxe, Executive and two-storey Penthouse — with in-suite amenities including wet bars, refrigerators, microwaves, coffee makers, flat-screen TVs, desks and ergonomic chairs. Guests also have access to a rooftop fitness centre, 3,000 square feet of meeting space, underground parking and 3,200 square feet of restaurant space.

Manga Hotels is one of Canada’s largest privately held hospitality companies, specializing in the acquisition, development and management of hotels and real estate. Its portfolio includes properties affiliated with Hilton, Marriott, Hyatt and InterContinental Hotels Group, as well as independents such as TOOR Hotel Toronto, SoHo 54 in New York City, Atlantica Hotel Halifax and The Hollis Halifax.

The company owns and operates more than 6,000 rooms with another 1,250 in the pipeline.