Spain’s Riu group to pump in $100m to enter Canadian market [Infographic]
Spanish chain Riu Hotels & Resorts plans to bring its Riu Plaza urban line to the Canadian hub of Toronto in 2021
The construction of a Riu Plaza urban line property in Canada will give the company a strong foothold in that market while also adding continuity to the hotel company’s plan to expand into the great cities across the globe.
The project, which has been designed in a sophisticated avant-garde style, is nearing the end of the design phase and aims for a projected opening in 2021.
The building is a newly-built modern tower block, and once completed it will be located in the city’s financial district.
It will also be mixed use. Riu’s investment in the part intended for the hotel will have 350 rooms, meeting rooms, a gym, bar and restaurant; while the upper floors will be for residential use.
Riu Hotels & Resorts has had a relationship with Canada and its residents for many years, with the country being one of the main client and guest source markets for Riu hotels in the Caribbean, Mexico and Central America.
However, it is only now establishing its physically presence in the country with plans to open this new hotel.
Toronto is the fifth largest city in North America and is considered one of the best cities in the world to live in.
Luis Riu, CEO of RIU Hotels & Resorts, said the opening of the first hotel in Toronto “is a big step forward in our commitment to expanding the Riu Plaza hotel line in the world’s key cities, establishing the Riu brand beyond more traditional vacation destinations.”
“We hope this hotel attracts RIU customers around the world to discover the city of Toronto with us, and also hope that the loyal customers we have in Canada decide to discover our urban product. This project means a new drive to raise awareness of our brand within and beyond the country,” he added.
Check out this infographic on the Canadian hotel pipeline, based on data from TOPHOTELCONSTRUCTION.
The first city hotel opened its doors in Panama in 2010 and has since been joined by the Riu Plaza Guadalajara hotel in Mexico, Riu Plaza Miami Beach and Riu Plaza New York Times Square in the US, Riu Plaza Berlin in Germany and Riu Plaza The Gresham Dublin in Ireland.
Let’s take a look at a few other projects currently underway by Riu Plaza Hotels & Resorts:
Hotel Riu Atoll
Clubhotel Riu Helios Paradise
RIU Hotels & Resorts was founded in Mallorca, Spain, in 1953 as a small summer business for the Riu family, and is currently owned by TUI and the Riu family and run by the third generation of the family. The company’s business is focused on the holiday hotel sector and over 60% of its establishments offer an ‘All Inclusive by RIU’ service.
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