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Skyline Hotels & Resorts, a division of Skyline International Development Inc., reports that Omni Hotels & Resorts will join The King Edward Hotel’s ownership group, King Edward Realty Inc., effective Aug. 1. As part of the agreement, Omni Hotels will assume management and operation of the hotel under their flag, renaming the property Omni King Edward Hotel. Skyline International Development will retain its ownership position and continue its existing role as asset manager of the Canadian-owned King Edward Realty Inc., along with partners Alex Shnaider, Serruya Realty Group, Dundee KE Limited Partnership and now Omni Hotels Corporation. “As Skyline evolves we continue to seek out new partners and organizations that will contribute to our success and growth as both a development company and a hotel and resort collection,”says Kevin Toth, president & COO of Skyline Hotels & Resorts. “We’ve worked closely with The King Edward’s operations team since the hotel was purchased in March 2010 and that relationship will certainly continue with Omni.”With Skyline’s involvement, the 110-year-old Toronto landmark completed a transformation into a mixed-use condo-hotel with 145 stylish private residential units. An approximately $40 million renovation began this summer and will include a complete overhaul of 300 guest rooms, updates to the hotel lobby and the restoration of the penthouse level Crystal Ballroom, abandoned since the 1970s. The delivery of the first 50 renovated guest rooms is set for completion in fall 2013.

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