RIU Hotels and Resorts to invest $100m in Toronto

RIU Hotels and Resorts has announced the construction of a US$100m hotel in its Riu Plaza urban line, in Toronto. The Spanish company’s investment will establish the first RIU hotel in Canada. Pictured above is the Riu Palace Macao in Bavaro, Dominican Republic. The project is near to completion of its design phase, with the hotel set to open in 2021 in Toronto’s financial district. A mock-up of its design can be seen below. The modern tower building will be a mixed-use property with 350 rooms, meeting space, a gym, bar and restaurant; while the upper floors will be for residential use. Luis Riu, CEO of RIU Hotels & Resorts, described the opening of the first hotel in Toronto as “a big step forward in our commitment to expanding the Riu Plaza hotel line in the world’s key cities, establishing the RIU brand beyond more traditional vacation destinations. We hope this hotel attracts RIU customers around the world to discover the city of Toronto with us”. In 2018, Toronto was named Canada’s top convention destination by Cvent, and consistently ranks among the top five in North America.