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Toronto’s core is compact and two subway lines cross in the middle of it, so the practical question is which line you are on and how far to the station.
The decision that matters
Downtown and the Financial District — beside Union Station and the PATH, which matters in winter. Empties in the evening.
Old Town and the Distillery — quieter, walkable, with the market. No subway close.
The Entertainment District and King West — hotels, theatres and TIFF, and genuinely loud at weekends.
West Queen West and Ossington — the best eating in the city, on the streetcar.
The Annex — Victorian houses on Line 2, ten minutes from downtown, and the best value.
Yorkville — the luxury end.
The full comparison is in where to stay in Toronto.
Before booking
Which subway line, and how far. Streetcars are scenic and slow.
The taxes. Quoted rates exclude 13 per cent HST and a Municipal Accommodation Tax. Check whether the total shown includes both.
Parking, which downtown hotels charge nightly at a substantial rate.
Noise, in the Entertainment District and on King West.
Air conditioning for July and August, which are humid.
Short-term rentals are regulated: hosts must register with the city, may only let their principal residence, and are capped at 180 nights for entire-home lettings. Legitimate listings show a registration number and enforcement is real.
When it costs most
TIFF in September is the peak and books out months ahead. Caribana at the start of August and Pride in late June both spike.
January to March is cheapest by a wide margin.