Sharp was unhappy with the partnership, and sold his 49 percent share in the hotel in 1976 for $18.5 million, and it was renamed The Sheraton Centre of Toronto.

Marriott International, Sheraton's parent company, sold the hotel to Brookfield Asset Management in 2017 for $335 million.

The site of the Sheraton was considered a "commercial slum" with two burlesque theatres, pawn shops and a cinema.

[12] The inner yard contains a landscaped garden with a waterfall, which was designed by a Canadian architect, J. Austin Floyd.

The hotel lobby serves as one of the nodes of the PATH network of pedestrian tunnels.