On July 29, 2025, Pacific Reach and Dilawri Group of Companies jointly acquired The Ritz-Carlton, Toronto, from Cadillac Fairview. As equal owners, Pacific Reach will assume the role of asset manager and collaborate closely with Dilawri to further enhance the hotel’s distinguished guest experience. Marriott International will continue to operate the property under The Ritz-Carlton brand, ensuring seamless continuity of service.

Although the transaction value was not disclosed, the acquisition underscores the partners’ confidence in Toronto’s status as a leading centre for luxury, business, and culture. Planned enhancements to the property include upgrades to the spa, wellness amenities, common areas, and conferencing facilities, with the objective of further elevating the hotel’s offerings for both leisure and business clientele.

Pacific Reach was advised by a legal team led by Josh Sprague at Norton Rose Fulbright LLP, while Dilawri received legal counsel from Duncan Reid at Farris LLP. KPMG LLP acted as tax advisor to the partnership. CBRE and Davies Ward Phillips & Vineberg LLP served as advisors to the vendor, Cadillac Fairview.