Sunray Group has acquired the Bisha Hotel in downtown Toronto and rebranded the asset.

The hotel has become Canada’s first Marriott Luxury Collection property. Sunray announced the acquisition of Bisha from Lifetime Developments and INK Entertainment Group without disclosing the price. But according to multiple reports, Sunray paid $91 million.

Located at 80 Blue Jays Way in the entertainment district, the hotel occupies the lower floors of a 44-storey mixed-use building that also includes 355 condominium units. Completed in 2017, the 96-room hotel features high-end amenities, including a rooftop infinity pool, luxury accommodations, and multiple dining venues.

The hotel previously operated under the Loews Hotels brand and was the only Canadian property affiliated with the company. The property’s food and beverage offerings—KŌST, Akira Back, Mister C., and French Made—will continue to be operated by INK Entertainment under a management agreement with Sunray, according to the reports.

Colliers marketed the property on behalf of Lifetime and INK and represented the sellers in the transaction.

Sunray Group, owned by the Gupta family, operates more than 70 hotels across Canada, with more than 10,000 rooms.

In addition to making the Toronto acquisition, Sunray has also finalized a deal with the Town of Wasaga Beach, Ont., to acquire 1.5 acres of town-owned land overlooking Beach Area One on Georgian Bay. The deal also calls for Sunray to develop a $45-million hotel and invest $1.5 million to design and build a public festival square near the beachfront, according to a town news release.

Sunray will pay $580,000 for the site while meeting the other investment requirements.

Pictured: Hotel formerly known as Bisha and now bearing a Marriott label in downtown Toronto.

Photo: Hidi Group