The Hotel Waverly is a four-storey low-rise hotel located in downtown Toronto. Opened in 1900, the hotel was built for J.J. Powell. It is among one of the oldest Toronto hotels in continuous operation.
Hotel Waverly is located at 484 Spadina Avenue on the northwest corner of Spadina Avenue and College Street, adjacent to Toronto's Chinatown. It is also close by the local landmarks The Silver Dollar Room and The Scott Mission.
The hotel's central location is close to major attractions such as the Art Gallery of Ontario, Queen's Park, The Royal Ontario Museum and Kensington Market, making it a prime target for redevelopment. It enjoys proximity to major transit routes via the 506 Carlton Streetcar and 510 Spadina Streetcar.
The Waverly's interior rooms are modest but comfortable. This accommodation provides low-cost housing benefiting Toronto's transient community as well as monthly residents. Its proximity to the mission has kept rental rates low, attracting customers who are looking for a deal in downtown. The hotel offers 24-hour laundry facilities, free parking and snack counter.
Though he denied it, evidence points towards James Earl Ray staying at the Waverly while hiding out in Toronto after shooting Martin Luther King, Jr.. It was also the longtime home of poet Milton Acorn, several of his most acclaimed works depict the life in the neighbourhood. In popular culture the hotel was the opening scene of the Elmore Leonard novel Killshot and was also featured in the film version. The hotel is also briefly pictured in the music video for "Games for Days" by Julian Plenti (a.k.a. Paul Banks). and the music video for "Man I Used to Be," by Canadian musician k-os. 
The Wynn Group, a Toronto-based rental group and building developer, have proposed to construct a 20-storey building with 202 rental units aimed at Toronto's university students. The Silver Dollar Room would be reopened on the first floor.
- "MLK assassin stayed in Toronto while on the run". CTV News. 2008-04-06. Retrieved 2009-01-01.
- Fraser Robinson and Josef Szende, "Spadina iTour." Heritage Toronto, 2009
- Torontoist - Reel Toronto: Killshot
- Video on YouTube
- Video on YouTube