I just thought I'd add my two cents to this thread. I just stayed at the Sheraton Toronto Centre for 3 days.
It's a very nice property, I recommend it highly. Front desk service was friendly and efficient. The room was freshly remodeled and had very nice furnishings. Great mattress. Great TV.
I had a view of the CN tower and the pool area. They have one of those indoor/outdoor pools, so you can swim outside in -10 degree weather if you wish.
The bistro on the second floor has a nice breakfast buffet for $18CDN.
The hotel is somewhat of a hub for several miles' worth of heated subterranean tunnels filled with shops and services. It was nice to be able to walk around in my shirtsleeves. Hudson's Bay department store is less than 10 minutes away via the tunnel, as is Eaton Centre which is a downtown mall with approx 100+ shops, including Sears.
Cab to the hotel is $39 CDN from the airport. Sedan from the hotel to the Airport is $44 CDN. Most places in the downtown area are $4-6 via taxi. Greek town was $8 amd was loaded with good Greek restaurants.
The Hilton is directly adjacent to this property, and it has a Ruth's Chris Steakhouse.
I walked about half a mile West of the hotel on Queen street, returned via King Street and passed no less than 50 interesting restaurants. Chinatown is a short distance away via cab ($5) and has dozens of Asian choices.
A large cineplex exists about 10 minutes' walk West of the hotel, along with a Chapters Bookstore.