Get us in your inbox
Executive Hotel Cosmopolitan Toronto
Photograph: Courtesy Booking.comExecutive Hotel Cosmopolitan Toronto

The 7 best cheap hotels in Toronto because why break the bank

Get the best out of Toronto without overspending on a hotel room. The city’s hotels can be cheap and good quality

Written by
Barry Choi

Now that Toronto is a major tourism destination, finding somewhere to stay that doesn’t break the bank can be a hard ask. With so many others flocking to the city for its attractions, bars and restaurants, you might assume that cheap-but-good accommodation would be non-existent. Not so, if you know where to look. Toronto does have some reasonably priced hotels you won’t regret booking a stay in. We’ve hand-picked the best, giving you more headspace to think about how you’ll be spending your time in town.

Who makes the cut? While we might not stay in every hotel featured below, we've based our list on top reviews and amenities to find you the best stays. This article includes affiliate links. These links have no influence on our editorial content. For more information, see our affiliate guidelines.

Best cheap hotels in Toronto

Residence Inn Toronto Downtown
Photograph: Courtesy Yelp/Residence Inn Toronto Downtown

1. Residence Inn Toronto Downtown

The Residence Inn Toronto Downtown scores highly for us in two ways: First, its downtown location, second: the full kitchen found in all rooms. Additional bonus points for the sleeper sofas, generously-sized bathrooms and the free hot breakfast buffet. This friendly, unpretentious hotel is just the place to make new friends while you enjoy a morning coffee.

The mood? Swanky meets budget. 
Location perks? Whether it's business as usual or a leisurely adventure, this central spot is great for all your downtown endeavours. 
Budget range? Middle of the road. 

Holiday Inn Express Toronto Downtown
Photograph: Courtesy Yelp/Holiday Inn Express Toronto Downtown

2. Holiday Inn Express Toronto Downtown

You might think Holiday Inns are no-frills, but wait until you see what the buffet bar at this place has in store. The on-site pancake machine is, obviously, a huge daily hit that delivers oh-so-delicious, fresh pancakes at the click of a button. Need another reason to stay here? You'll be just steps away from Toronto's St. Lawrence Market.

The mood? A Modern, no-thrills kind of vibe.
Location perks? This convenient location features a courtyard with a fountain and garden. 
Budget range? Great economy prices. 

  • Hotels
  • Downtown Toronto
  • price 3 of 4

The Chelsea Hotel offers a fantastic downtown location and good value for your money that’s perfect for families. Kids can enjoy the 130’ corkscrew waterslide, Kids Centre and Club 33 Teen Lounge while adults can relax at the private pool or work out in the fitness center. If you’re looking for something to eat, check out the T| BAR, which serves one of the best Indian buffets in the city during the week.

The mood? Stylish and contemporary. 
Location perks? A short stroll to the Art Gallery of Toronto and downtown. 
Budget range? An affordable steal. 

  • Hotels
  • Downtown Toronto

The world's largest full-service Courtyard hotel is located in Downtown Toronto with the average rate starting at just $209 CAD per night. The recent addition of printed murals and art in every room, as well as the lobby fireplace, give the hotel a homier feel. Located at Yonge and College, you’ll be just a few blocks away from the Village and Yonge & Dundas (Toronto’s Times Square).

  • Hotels
  • Harbourfront

For a property that’s located on the water, the Radisson Admiral Hotel offers surprisingly low rates starting at $239 CAD. For those of you in town to catch a Leafs or Raptors game, the hotel is within walking distance of the Rogers Centre and Scotiabank Arena. End your night with a trip to the hotel’s Lakeview Pool Lounge, where you'll enjoy stunning views of the city and Lake Ontario with a refreshing drink in hand. 

  • Hotels
  • Greater Toronto

Don’t let the airport location fool you: the Alt Hotel Toronto Airport is surprisingly convenient—you can get to downtown Toronto via the train in less than 40 minutes. Rooms with one bed start at $179 CAD while a room with two beds starts at $199 CAD. Make sure to check out the space’s unique “alt expo” feature: a custom collection of 80,000 Instagram photos that form a mural that celebrates creativity and design.

Toronto Markham Marriott
Photograph: Courtesy Yelp/Toronto Markham Marriott

7. Toronto Markham Marriott

If you’re going to be in the northern part of Toronto or you simply like to experience luxury hotels at reasonable rates, you should check out the Toronto Markham Marriott. The highlight of the hotel is the infinity pool where the in-water lounge seats and the vibrant coloured floor-to-ceiling windows will make you wonder if you’ve relocated to an exotic resort. Grab a sofa seat booth or a bar stool at Draco, the hotel’s restaurant and lounge, where you can enjoy the downtown feel without actually having to be downtown.


Working with a higher budget?

    You may also like
    You may also like