I've read the same thing in the past though, about why Toronto could never host it. It has to do with more than just hotels and things like that too -- currency is another issue, media, weather, etc. The ASG is one giant money-making extravaganza, bigger than anything Toronto has ever seen or hosted.
I'm not saying it can't be done; these are just a few of the many reasons why such undertaking was never attempted before. I'm trying to find Doug Smith's old blog post about this in 2010 but I can't seem to find it or it's not there anymore.