The Hotel Rialto was originally named the Lim Bang Building, after the developer Mr. Lim Bang. Mr. Bang was a very successful business merchant in Victoria; in fact, he was one of the first to own a vehicle in BC and held drivers license no. 4. 

Built in 1911 the hotel was renamed the Prince George Hotel, which closed during prohibition. When it reopened after prohibition it was as the Hotel Douglas. It continued operating for many many years as such but as time went on, this beloved landmark building started to show it's age.

Bought by its current owner, Danilo Danzo in 2000, it underwent facelifts, a name change in 2007 and then closed in mid 2007 for renovations. The hotel reopened officially as the Hotel Rialto in June 2009.

Mr. Danzo immigrated to Canada from the Veneto region of northern Italy in 1956. He found his way to Vancouver Island and ultimately to Victoria where he has been a successful businessman for 40 years.

The hotel is named after one of the most famous bridges in the world, the Rialto Bridge in Venice, which is just a two hour drive from his place of birth. Further recognition of his heritage are evident in the names of the lounge and cafe – Veneto.

The widespread use of marble and wall treatments in the lobby and restaurants are also typical of northern Italy.