Toivo Restaurant, with its stunning sea view and abundant natural light, is designed for a wide variety of occasions. The venue's flexibility allows event planning from idyllic dinners for 20 people to gigs fitting nearly 1,000 people. Depending on the style of the table service, a gala dinner in Toivo can seat up to 510 people.

Toivo Restaurant is named after a sailing frigate built in Oulu in 1871. The ship sailed around the world carrying cargo, and its long voyages inspired the legend and the song "Laiva Toivo Oulusta" ("The Ship Toivo from Oulu"). The song recounts the experiences of the sailors on the frigate. It was first performed in Oulu on 13 July 1877 when the bark Onni returned from a 2-year voyage. The song was sung by the crew who rowed from the Oulu roadstead, through the Toppila strait, to Pikisaari and finally to the city shore. By the next day, the whole city was singing the song, says Yrjö Kaukiainen, who authored a book on the ship and song's history. Still today, the song about Toivo keeps a bit of history alive.

Toivo Restaurant can be divided into 4 sections. They all have their own stories, and each section can seat 100 – 120 people. Meriterassi, the Sea Terrace, seats nearly 200 people.

- The bar is situated at the front of the restaurant, looking out on the sea and the market square. During the summer season, the bar has an entrance to the lovely Sea Terrace.
- Parketti is the restaurant's dance floor and stage. Artists and performers of even international reputation have been performing here since the 1970s.
- Veijo Esso is an area dedicated to a regular customer. A table has been named after the man for decades.
- Siltasali, the Bridge Room, is situated in the northwest end of the restaurant and has a view of Linnasaari and the Oulu River delta. The city's most distinguished guests have dined in this room. The section seats 80 people when arranged in theater format.

There are 3 distinctive meeting rooms in Toivo's meeting room corridor. All the rooms have a stunning view of Linnasaari and the Oulu River delta.

- Mokka is a meeting room that breathes historical air. Its atmospheric interior décor is soft and romantic, and the room has a beautiful view of the Oulu River delta. The soft and first-rate feel of the room is suitable for a crystal and silverware table setting. Mokka can seat up to 12 people.
- Kaleva is named after the local newspaper Kaleva. It is a modern meeting room suited for 16 people.
- Helmi is a room that used to be the hotel manager's office, where she and her guests could enjoy its stunning view. The room is now used to arrange meetings and dinners with different moods for up to 16 people at a time.

Ainola Hall is a large and bright function hall, situated at the far end of the hotel, on the side closer to the city. It is made up of 6 separate but combinable smaller meeting rooms. The hall is named after the lovely Ainola Park near the hotel. The 6 smaller meeting rooms are named after locations around the hotel. This venue is versatile and easily adapted to suit your needs. All the rooms look out on either the market square or the park. Ainola Hall can seat 450 people for a meeting when arranged in theater format, or depending on the style of the table service, the room can seat 300 people for dinner.

These meeting rooms of Ainola Hall look out on the park and Linnasaari:

- Ranta can seat 40 people when arranged in theater format.
- Koski can seat 40 people when arranged in theater format.
- Pakkala can seat 40 people when arranged in theater format.

These meeting rooms look out on the market square:

- Kiikeli can seat 50 people when arranged in theater format.
- Nuotta can seat 50 people when arranged in theater format.
- Luoto can seat 30 people when arranged in theater format.

Situated underneath Ainola Hall are 2 more versatile meeting rooms:

- Ratti can seat 90 people when arranged in theater format.
- Piki can seat 30 people when arranged in theater format.