Toronto Hotel Operator Expands into Chicago Market with Acquisition

Manga Hotel Group, a Toronto-based hospitality company, has acquired a 261-room downtown Chicago hotel in the River North neighbourhood, continuing its expansion into major U.S. markets. The company has rebranded the property as Hotel 505 River North and plans to eventually convert it to its TOOR Hotel brand, which will then operate locations in Toronto, New York City, and Chicago. This acquisition follows Manga's earlier purchases of hotels in New York and represents the company's strategy to establish its brand across multiple major North American markets.

Manga Hotel Group's Chicago acquisition marks the third major U.S. property addition to its portfolio in recent years, following New York purchases in 2025 and 2026. The River North location, a 2010-built former Royal Sonesta, offers premium amenities including over 8,000 square feet of meeting space, an indoor pool, and on-site dining—positioning it as a full-service property in one of Chicago's most visited neighbourhoods near the Magnificent Mile shopping district.

The company's rebranding strategy signals an intentional shift from acquiring existing hotel operations to integrating them under its proprietary TOOR Hotel brand. This approach allows Manga to leverage established properties while building brand recognition across three major North American markets simultaneously, potentially generating economies of scale in operations and marketing.