More like 3 and half stars until full renovation is completed.
The King Edward hotel opened in 1903. The hotel was granted it's name by namesake King Edward VII. Notable celebrities that have stayed in the hotel are: Mark Twain, Rudolph Valentino, Louis Armstrong, Elvis Presley, Britney Spears, and Ernest Hemingway who had lived in the hotel for a period. Even Margaret Thatcher lived here! Here is a web site that lists the celebrities and dignitaries that have stayed here. http://blog.buzzbuzzhome.com/2010/05/king-edward-private-residences.html
It is kind of like the old Plaza in NYC and is planning a full renovation just like the Plaza has done as well.
They are supposed to build condos within the hotel again during it's up coming renovation.
http://www.yongestreetmedia.ca/devnews/kingedward0519.aspx
The Beatles also stayed here in 1964. The King Edward has not only housed film stars but also film sets, from Leonard Cohen's 1983 musical I am a Hotel, to Jamie Foxx's film Bait.
I think we had a renovated room and it is clear they want to keep the Victorian theme of the hotel only redone with modern furnishings to make it look Victorian.
It belongs to the Starwood group of hotels so you can get points staying here. We did not eat in the hotel but they do have an afternoon tea that we took advantage of which was nice. We also did not use the gym or laundry services which they do offer.
It is obviously a traditional classic hotel. It is charming and service is warm and friendly. One special feature is that each room is decorated differently kind of like a B and B. No 2 rooms are exactly the same. I would like to go back when it is fully renovated!