Bisha Hotel Toronto

Founded by Ray Gupta, Sunray Group now owns over 70 hospitality properties, the latest being the Bisha Hotel at 80 Blue Jays Way.

Ontario-based real estate company Sunray Group has added a high-profile hotel to its already-extensive portfolio of hotel properties: the Bisha Hotel in downtown Toronto.

The 96-room Bisha Hotel is located at 80 Blue Jays Way, between King Street W and Wellington Street W just two blocks north of Rogers Centre.

Sunray Group announced the acquisition last week, but did not disclose the sale price. STOREYS has learned that the sale price was $91 million, which translates to $947,917 per room.

The sale was brokered by Alam Pirani, Robin McLuskie, Fraser MacDonald, Jessi Carrier, Hamir Bansal, and Russell Beaudry of Colliers, also known as the Colliers Hotels Team.

The Bisha Hotel was originally developed by Toronto-based real estate developer Lifetime Developments alongside lifestyle and entertainment company INK Entertainment Group. Completed in 2017, the hotel sits within a 44-storey tower that also includes 259 residences.

The building was designed by Wallman Architects while the interiors and amenity areas were designed by Alessandro Munge of Studio Munge. According to Lifetime Developments, the top floor of the hotel and an exclusive suite were designed by rock legend Lenny Kravitz through Kravitz Design, the studio he founded in 2003.

Bisha became the newest private-label boutique hotel brand to be founded in Toronto since the Four Seasons in the 1960s, but has now joined The Luxury Collection by Marriott, the first hotel in Canada to join the international collection of over 120 hotels. The hotel will continue to be managed by INK Entertainment under a management contract with Sunray Group.

For Sunray Group, the Bisha Hotel adds to its ever-growing portfolio of hotels, which includes over 70 properties and 10,000 rooms, according to its corporate website.

The portfolio includes numerous hotels in rural parts of Ontario, as well as several in Saskatchewan and a few in Quebec. The hotels also operate under a diverse range of brands, including Holiday Inn, Best Western Plus, Comfort Inn & Suites, Fairfield by Marriott, Four Points by Sheraton, and others.