Top 5 Affordable Accommodations in Toronto

From runway fashion shows to high-flying skyscrapers, Toronto is a cosmopolitan city that has something for everyone. Luckily, so does its assortment of affordable accommodations.

Whether you’re looking for a lavish hotel or a cozy home-away-from-home, this list of Top 5 Affordable Accommodations in Toronto will have you covered.

1. Hotel Ocho

Situated a short stroll from Toronto Coach Terminal, Hotel Ocho offers guests the perfect base while visiting Toronto. It also provides a concierge, bicycle rental and luggage storage. Its multilingual staff are available to provide dining suggestions and assist with booking itineraries.

There are 12 well-appointed rooms at the hotel, each equipped with a variety of amenities to ensure an enjoyable stay. Each are air conditioned and offer cable/satellite channels, a hair dryer and a shower.

Guests can relax in the onsite lounge bar each evening. Alternatively, there are a selection of restaurants and cafes located nearby. Billy Bishop Toronto City airport is a brief car ride away.

2. Westin Harbour Castle

Located along the waterfront of Lake Ontario, this Westin sits next to the Harbourfront Ferry Terminal with service to Toronto Islands and is connected to the Metro Toronto Convention Centre via a skywalk. It also boasts 977 rooms, a modern gym, tennis, squash, and a spa. A buffet breakfast is served at the restaurant and room service is available during limited hours. Free Wi-Fi is offered to Starwood Preferred members.

Guestrooms are sleek and modern, with floor-to-ceiling windows offering impressive views and mod furniture, plus flat-screen TVs, and custom Sferra sheets. Some have Lake Ontario views, while suites add separate sitting areas. There are also coffee/tea makers and mini-fridges.

The hotel has a sauna and hot tub. There are also meeting and event facilities, a business center, and concierge services. Dining options include Eggspectation, a popular breakfast spot that serves eggs and pancakes, and the upscale Canoe Restaurant and Bar with a patio and city views. A variety of restaurants can be found within a 10-minute walk, including St. Lawrence Market, a historic food market with various stalls and vendors.

3. InterContinental

With its ideal location, luxury accommodations, state-of-the-art facilities and exceptional service, InterContinental offers everything a corporate traveler could ask for. The hotel offers two spectacular Next Generation Boardrooms and 19 meeting rooms, all of which are outfitted with the latest technology.

The guestrooms feature modern furnishings and upscale amenities such as flat-screen TVs, safety deposit boxes, minibars, free toiletries, and bathrobes. Rooms with stunning city or lake views and separate seating areas are also available.

A full spa is on hand, as are a fitness center and an indoor pool. There’s also a staffed business centre and concierge services for guests to use. Those looking to eat on-site can tuck into Azure Restaurant and Bar, which has a delightful combination of visual elegance and delectable cuisine.

The property’s enviable location means that it’s just a short walk from the Metro Toronto Convention Center and the CN Tower. Toronto Eaton Centre is a short car ride away, while Billy Bishop Toronto City Airport is within 10 minutes’ drive. A variety of shopping, dining and nightlife options can be found in the immediate area.

4. Bond Place

Located in the heart of Toronto, Bond Place is the perfect destination for those looking for modern and fun accommodations. This affordable hotel-shelter features 285 rooms with plenty of amenities to make your stay memorable. It also offers free Wi-Fi in public areas, concierge services, and meeting spaces.

Rooms here offer refrigerators and flat-screen TVs along with premium toiletries. They are on the small side, however, and some are subject to street noise. Guests can keep up with their fitness routine at the on-site gym or relax at the coffee bar. Cooked-to-order breakfasts are available for a fee. The Scaddabush Italian Kitchen & Bar is within 600 metres for those looking to dine out during their stay.

The Royal Ontario Museum and historic shop-filled Distillery District are just a short drive from this hotel. The CN Tower and Rogers Centre are also easily reachable by car. The hotel offers multiple programming and tenant support spaces revolving around mental health care, job readiness, education, and housing support. It also has on-site laundry facilities and a 24-hour front desk to help its residents.

5. The Ritz-Carlton

The Ritz-Carlton is a luxury hotel in Toronto and it offers guests the opportunity to discover this beautiful city and explore its famous attractions. Located in the heart of downtown Toronto, this hotel is close to popular shops, restaurants and entertainment venues. Guests will be within walking distance of the CN Tower, Ripley’s Aquarium and The Hockey Hall of Fame.

The hotel in Toronto features a number of amenities and services that will ensure you have an enjoyable stay including valet parking, a sauna and a Jacuzzi. There is also an on-site spa that provides a range of treatments, such as the My Blend facial by Clarins. The property has 263 rooms, including deluxe guestrooms and suites. Rooms are spacious and feature floor-to-ceiling windows, deep soaker tubs and 42-inch LCD flat-screen HD TVs. The bathrooms are covered with cream Portuguese Estremoz marble and include separate rain shower stalls and tubs, heated floors and Asprey Purple Water bath products.


Guests can dine at TOCA, which has an exquisite Cheese Cave and serves Italian cuisine made from locally sourced ingredients. There is also a coffee bar that serves pastries in the morning and cocktails in the evening. EPOCH is a casual urban restaurant with fire pits, Simcoe Park views and a bustling cocktail bar.

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