While billy bishop is the Toronto island downtown airport, it only has smaller flights from the east coast. Not many airlines fly there.
Pearson is the big international airport.
There is now a brand new train line that cost like $27 one way to get you to Union station downtown in 25 minutes.
There is still the option to take the TTC (local transit) for $3, you take the 192 Airport Express Rocket to Kipling station and subway it from there.
Or shell out for a cab, it will probably run you around $50.
For Hotels hotwire is always solid. Downtown hotels usually cost significantly more than suburb/near airport hotels. Air BNB is another option if a bunch of tournament guys want to rent out a full apartment or even a house.