RIU Hotels and Resorts announced the construction of a hotel in its Riu Plaza urban line, in Toronto. The Spanish company will invest around $100 million in the project, which will establish the first RIU hotel in Canada.

The project, designed in a sophisticated avant-garde style, as a part of the Riu Plaza brand, is now near the end of the design phase and is set to open in 2021 in Toronto’s booming financial district. 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, said that opening of the first hotel in Toronto “is 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. Toronto was also among the top-ranked destinations selected by meeting planners in the 2018 Watkins Report, which rates the most positive overall experience for major conventions in North America. 

Toronto offers planners a destination that is open, diverse and safe - a city that blends the best of Canadian inclusiveness with iconic events, attractions, restaurants, culture and festivals. The region, promoted as Canada's Downtown, is home to North America's second largest financial services centre, third largest technology sector and the country's largest combined life-sciences sector, providing access to industry thought-leaders and businesses driving innovation in their field.