The hotel is located at the northwestern corner of Bloor Street and Avenue Road. The first known building on the site was a small wayside inn built in 1820 and named Tecumseh Wigwam. Then a considerable distance from the city it served travellers on their way north out of town. The inn was demolished around 1875. Originally planned to be called the Queen's Park Plaza it was designed by Hugh G. Holman. Construction began in 1928 and was due to be completed in 1929; however, the stock market crash and the beginning of the Great Depression caused its builder to go out of business. The steel framed structure was left partially completed for several years as various attempts to restart it failed. It was finally completed and opened for business in 1936, with rooms costing $3 per night and up. It was expanded with a second tower added to the north, the new building being a modernist structure designed by Peter Dickinson. Located across the street from the University of Torontothe hotel became especially known as one of the centres for Canadian literature, authors and opera singers, especially the rooftop patio that has existed since it opened. As a result, the hotel has appeared in works by a number of Canadian writers including Margaret Atwood, Morley Callaghan, Mordecai Richler, and Hugh Garner. Near Queen's Park, it was also a popular site for many provincial government officials, with the Premier Bill Davis government's "Big Blue Machine" holding frequent meetings there. In the 1971, the Four Seasons opened across Avenue Road and the Park Plaza lost its title as the most prestigious of the Yorkville hotels. In 1995, the hotel went into receivership, but was purchased by new owners who began a complete overhaul. Added were such features as an almost penthouse, to woo back the wealthiest guests. In 1999 the Hyatt chain purchased the structure, at what was then calculated to be the highest cost per room ever paid in Canada. The hotel closed on December 1, 2017 for an extensive renovation. The south tower will be converted to 65 luxury rental units, while the north tower is undergoing refurbishment to continue operating as a hotel. The two-story podium and vehicle forecourt that connected the towers will be demolished and replaced by a new larger podium that will make up a streetwall.
