01/20/2014 12:56 EST | Updated 03/22/2014 05:59 EDT

Global Backpackers Village, Toronto's Largest Hostel, Closes

stevenharris Flickr
Global Village Backpackers, the largest hostel in downtown Toronto, announced its closure on the weekend, marking an end to its 17-year stay on the northwest corner of King Street West and Spadina Avenue.

With the closure comes uncertainty over the historic Toronto building. It has been a hotel for nearly 140 years, beginning in 1873 as the Richardson House. It opening as the Zeigler Hotel sometime in 1914, and then changed its name to Hotel Spadina and then the Spadina Hotel, which it would be until Global Village moved in in 1997.

The Spadina Hotel became a famous music venue, hosting the Rolling Stones and Leonard Cohen, and later the Tragically Hip and the Skydiggers, and more recently becoming a hub for Toronto's punk scene.

Global Village Backpackers had a bar inside the hostel, but it too will close.

The hostel gave no immediate reason for closing, only citing "extreme unforeseen circumstances" it would be closing for good today, Jan. 20.

"Thank you to everyone who has made this place the icon it is today. We love you all, and as individuals we wish it wasn't ending so soon!" posted the hostel on Facebook. "Come and see us this weekend for a last goodbye!"

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