The recently completed Hyatt Regency Portland has been acquired by a new hotel operator.
Shortly before the New Year, Xenia Hotels and Resorts announced its acquisition of Hyatt Regency Portland at the Oregon Convention Center. Xenia acquired the hotel for roughly $190 million, or $317,000 per room. The cost includes the development, pre-opening, startup and supply costs.
The property began operations Dec. 19, 2019. The 600 rooms include 16 suites, and on-site amenities include three dining venues, a Hyatt StayFit Gym, a Regency Club and more. The property retains its Hyatt Regency Portland name.
With the acquisition of this property, Xenia Hotels and Resorts now operates 10 Hyatt properties across the United States.
“We are excited to expand our relationship with Hyatt, with approximately 30% of our total portfolio room count now being affiliated with various Hyatt brands in the luxury and upper upscale segments,” said Marcel Verbaas, chairman and CEO, Xenia Hotels and Resorts.
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