A 65-storey condominium and hotel that bears the name of controversial U.S. President Donald Trump will soon be rebranded as ‘The St. Regis Toronto.’
The new owner of the Trump International Hotel and Tower, JCF Capital, made the announcement on Thursday.
The news comes two days after the firm announced that it had bought out the management contracts for the building, paving the way for the Trump name to be removed.
While Trump never owned the building, the Trump Organization had licensed his name to the building and also operated it.
JCF Capital says that InnVest Hotels LP has since acquired the 261-room hotel and will operate it going forward.
The hotel will be known as ‘The Adelaide Hotel Toronto’ while renovations to its lobby, guestrooms, public areas and food and beverage outlets are completed.
It will then be formally renamed the ‘The St. Regis Toronto.’
"The acquisition of this landmark hotel is in line with InnVest's long-term business strategy of acquiring high quality luxury properties," Vice President Investments of InnVest Hotels Matthew Cornell said in a press release. "This acquisition underscores InnVest Hotels' commitment to expanding and diversifying our portfolio across Canada."
It is not known when the Trump name will be officially removed from the exterior of the hotel.
