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Rumour Alert! Templar Hotel Might be For Sale

The hotel rumour mill is still circulating with the recent news that the Templar Hotel might be up for power of sale. The newish boutique hotel on Adelaide Street may have defaulted on their mortgage and could now be owned by the bank. Sources are saying the hotel was "initially listed at $13 million, but was reduced to $1 to potentially speed the time in which they get bids."

The rumoured listing, posted by a BuzzBuzzHome reader, sounds remarkably like the Templar property:
This 27 Guest Room Luxury Concept Boutique Hotel Offers A Rooftop Bar Area, Design-Inspired Lobby Lounge, Street Level Front Patio Area, Restaurant With Open Kitchen Format & Japanese-Style Spa With Outdoor Plunge Pool. The Property Was Meticulously Designed With Some Of The Best Quality Design Materials Sourced Exclusively From Around The World. 20,398 square feet. Taxes: $37,663.00 /2013. Not many people even know about this hotel; one of Toronto's best kept secrets. The Templar has 27 rooms, a rooftop deck and there's airport pick-up in a porsche. Previous guests on TripAdvisor gave the hotel great reviews calling it "amazing" and "the best hotel in Toronto." Are the rumours true? Hotel staff aren't talking and neither is their Twitter account which hasn't tweeted since March.
· Hotels Week 2014 [Curbed Toronto]
· Toronto's Most Expensive Hotel Rooms [Curbed Toronto]
· Rumour Alert! Downtown Toronto Boutique Hotel in Power of Sale [BuzzBuzz]