 The hotel opened on October 16, 1972 as the Four Seasons Sheraton Hotel, a joint venture between Sheraton and Toronto businessman Issy Sharp's Four Seasons chain.At the time, it was the second-largest hotel in Toronto, behind only the Royal York Hotel.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.