According to Bill Stone, Executive Managing Director of Colliers International Hotels, �The sale of the Sheraton Centre Toronto Hotel indicates an increase in buyer confidence within Canada.  Investment momentum is clearly improving with transaction volume reaching approximately $407 million thus far this year, a 328% increase compared to the same period in 2000.�

�Hotel investment activity continues to be dominated by private capital or in the case of irreplaceable assets like the Sheraton Centre Toronto Hotel by strategic investors like Starwood,� added Alam Pirani, Managing Director of Colliers International Hotels.

The Sheraton Centre Toronto Hotel is a first-class, high-rise convention hotel located in Toronto�s downtown Financial District.  It is Canada�s second largest hotel.  Directly linked to the PATH, The Hotel is connected to more than 1,000 underground shops and services including a link to Eaton�s Shopping Centre.  The Hotel is proximate to such tourist attractions as the SkyDome, CN Tower, Metro Toronto Convention Centre, Air Canada Centre, Pantages and Elgin Theatres and Hockey Hall of Fame.

The Hotel has a total of 1,377 guest rooms, including 74 suites, three restaurants, two lounges, an extensive fitness facility including an indoor/outdoor pool, hot tub, sauna, whirlpool, massage and treatment clinic and a 2,900 square foot children�s centre.  With 36 meeting rooms, the Sheraton Centre Toronto Hotel has approximately 84,000 square feet of meeting and convention space.  The Hotel appeals to corporate, convention and tourist travellers, alike.

Colliers International Hotels, a subsidiary of Colliers International, is an international hotel investment advisory firm with offices in Toronto, Vancouver, San Francisco, Dallas, Seattle, Hong Kong, Singapore, Sydney and London with affiliates in some 251 offices in 52 countries.  In Canada, its principals have specialized exclusively in hotel transactions for over 12 years and have closed approximately 130 hotel brokerage transactions, valued at over $1.3 billion.