Visitors often ask what hotel to stay at, and even which hotels are close to the parade. Really, it doesn't matter where you stay. Many of the events are not in one neighbourhood. Staying downtown is your best bet though, for convenience and location to attractions. To find your hotel, go to: http://www.hotels.ca/
If you like a more personal touch, bed and breakfasts are the unique way to go. I've stayed at the Homewood Inn a few times and would recommend it. Check out the Toronto B&B site for many options.
As far as transportation goes, I would suggest taking the TTC rather than taxis, as cab rides in the city have gone up. A day pass for $9 is a smart idea, and it's good for 2 adults and 4 kids.
The festival starts with the official Launch on July 14, Junior Carnival on the 18th, the Gala on the 24th, Pan Alive on the 31st, and the Parade on August 1st. The complete list of Caribana events is on the Caribana festival site.

King and Queen is the opportunity for the bands to showcase their amazing colourful and shining creations. Seeing them dance on stage in the evening gives me goosebumps.
King & Queen and Pan Alive are both held at Lamport Stadium, King St. West.
The parade itself begins outside of Exhibition Place (Princes Blvd.) & goes for 4 kilometres along Lakeshore Blvd. West. With over a million spectators, you can imagine what traffic is like, so take a streetcar to the CNE. Prime spots along the parade route are nabbed in the morning. Do be prepared for the sun, even rain, and to wait. There's often a long gap between bands, which isn't pleasant for spectators, so be ready to lime with drinks and food you've brought with you. Vendors along the route sell Caribbean cuisine, and there are several ice cream trucks.
Check out the costumes the bands are designing (go to Toronto Mas Bands list), register, and get ready to jump, wine and wave!




















