My husband and I were in T.O for a combination of business & pleasure. For our business purposes we needed a hotel downtown & ended up at the King Eddy. Service was excellent, the hotel was nice and quiet and we had a room on a high floor with an excellent view. The only reason I can't rate our stay as excellent is that the heat in our room was inconsistent and we were not cold but chilly pretty much the whole time. The hotel sent someone twice when we mentioned it but it kept happening.
The area around the hotel is great: fine restaurants, pubs, bars and shopping. A subway station at the end of the street if you need/want to go further.