A first-time hotel buyer has acquired the 259-room Four Seasons Hotel Toronto for $225 million, the highest single asset price per room transaction in Canadian history.
Shahid Khan and family will take ownership, says Jones Lang LaSalle, who arranged the sale on behalf of Kingdom Holding Company. Khan is the founder of Flex-N-Gate Group and chief executive officer of the Jacksonville Jaguars of the National Football League and the historic London-based Fulham Football Club.
The Four Seasons Hotels and Resorts will continue to manage the property
“The property’s prominent location and proximity to Four Seasons’ global headquarters generated a depth of international investor interest,” said Mark Sparrow, senior vice-president at JLL. “The size of this transaction exemplifies the strength of the Canadian lodging market, with Toronto, as an international gateway market, experiencing particularly strong hotel fundamentals and global interest.”
The hotel opened in 2012 and features the Café Boulud restaurant and a 30,000-square-foot spa. Located in Toronto’s distinguished Yorkville neighbourhood, the hotel is within walking distance of Toronto’s most desirable retail, restaurants, art galleries and museums.
