Toronto-based Manga Hotel Group has entered the Chicago market with the acquisition of the 261-room Royal Sonesta Chicago River North at 505 N. State St.

Manga has rebranded the downtown property as Hotel 505 River North and plans to eventually convert it to its TOOR Hotel brand. The purchase price was not disclosed. The hotel last traded for $54.5M in 2019.

The hotel includes more than 8K SF of meeting and event space across 10 rooms, along with an indoor pool, fitness centre and on-site dining. It sits in Chicago’s River North neighbourhood, near the Magnificent Mile.

The acquisition extends a run of U.S. hotel purchases by Manga. The company acquired the SoHo 54 Hotel in New York in 2025 and followed with the 158-room Chelsean New York Hotel this year. Connect previously reported Manga paid $50M for the Chelsean.

“Chicago is an important hospitality market, and this was a strategic move to add another major city to the TOOR brand alongside Toronto and New York City,” Manga president and CEO Sukhdev Toor said.

The Chicago property had operated as a Royal Sonesta and was built in 2010. Manga’s plans would give TOOR locations in three major North American cities.

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