It is a historic and iconic structure built between 1926 and 1927. This hotel was designed by Thomas D. McMahon and built by the American company Great Northern Railway, being the only Canadian railway hotel built by an American company
The hotel was named after the Prince of Wales, who later became King Edward VIII. Although the prince was expected to stay there during his visit to Canada in 1927, he ultimately did not do so. The hotel's design incorporates elements of the Swiss chalet style, with sloping roofs, balconies and a primarily wooden structure.