Opened on 11 June 1929, the Châteauesque-styled building is , and contains 28 floors. It is considered one of Canada's grand railway hotels. After its completion, the building was briefly the tallest building in Toronto, as well as the tallest building in the country, and the British Empire, until the nearby Canadian Bank of Commerce Tower was built the following year. The building has undergone several extensive renovations since it first opened, with its first major renovation in 1972. An underground walkway linking the hotel with the Royal Bank Plaza and Union Station form part of the Toronto's PATH underground city system.