One of the most popular five-star resort chains in Canada's favourite vacation destinations - including Cuba, Dominican Republic and Jamaica - has announced their plans to open a hotel in Toronto. RIU Hotels & Resorts will be opening their very first Canadian RIU Plaza destination in the city's downtown core. RIU has invested $100 million into the new tower block, which will double as a hotel and residence.\nThe Toronto RIU Plaza, a modern and avant-garde structure, will be located in the financial district. It will have 350 rooms, a gym, a bar, a restaurant and several meeting rooms. The upper floors will be reserved exclusively for private residences.\nREAD ALSO: Hundreds Of Photo Radar Cameras Are Being Installed Across Toronto In An Effort To Curb Speeding\nCanadians are some of the primary guests at RIU resorts in places like Montego Bay, Punta Cana, Cancun and Los Cabos. RIU has a strong relationship with Canada, which is why they've chosen to build an outpost in our busiest city.\nREAD ALSO: Toronto's Massive New Market Made Entirely Out Of Shipping Containers Is Already Standing (PHOTOS)\nRIU Hotels & Resorts has announced the construction of a hotel in its Riu Plaza urban line, in Toronto, Canada https://t.co/JniOmYHwdg #ItsRiuTime pic.twitter.com/8FxPWBSJ3M— RIU Hotels & Resorts (@RiuHoteles) January 16, 2019\n@riuhotelsembedded via\nRIU Plaza locations are also going up in other urban cities like London and New York. Construction for the Toronto RIU will begin next year and is set to open in 2021. RIU's roster of resorts includes all-inclusive, family and adults-only destinations in Europe, Africa, Southeast Asia and now, North America.\nREAD ALSO: Toronto Is Getting A Romantic New Park With A Heart-Shaped Pond (PHOTOS)\n@riuhotelsembedded via\nThe RIU will be one of several exciting hotels new to Toronto, including Canada's very first cannabis-friendly hotel and the new St. Regis luxury hotel.\nTo see all the RIU accommodations around the world, click here.