the heathman hotel
Pebblebrook Hotel Trust Completes Sale of The Heathman Hotel for $45M
Pebblebrook Hotel Trust | February 23, 2023
BETHESDA, M.D.-- Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that on February 22, 2023, it closed on the sale of the 151-room The Heathman Hotel in Portland, OR for $45.0 million to a third party. For the trailing twelve months ended December 31, 2022, the hotel’s net operating income was $1.0 million, and its Hotel EBITDA was $1.2 million. Based on the hotel’s operating performance for 2019, the $45.0 million sales price reflects a 10.7x EBITDA multiple and an 8.4% net operating income capitalization rate. The net operating income for both periods mentioned above is after an assumed annual capital reserve o...
Nobody Asked Me, But… No. 220: Hotel History: The Heathman Hotel
Stanley Turkel | October 2, 2019
Hotel History: The Heathman Hotel The original Heathman Hotel was built in 1926 one block from the current structure by George Heathman for $1 million. Because of the success of the original hotel, Heathman immediately started construction of a new 10-story concrete structure designed by the architectural firm of DeYoung and Raold. The New Heathman Hotel was designed in the Jacobean Revival style and was Portland’s largest construction project to that date. When it opened, Governor I. L. Patterson and Mayor George Luis Baker made dedication speeches while radio station KOIN featured a live band. The Oregon Journal described the Heathman ...
Managed by Provenance Hotels, Portland’s Historic Heathman Hotel Undergoing Renovation
The Heathman Hotel | February 16, 2018
February 16, 2018 – PORTLAND, Ore. – The Heathman Hotel, a Portland cultural fixture since the day it opened in 1927, is undergoing a renovation that will polish this treasured jewel, renew its luster, reaffirm its illustrious past and ready it for a bright new future. Slated for completion in June 2018, the project encompasses the complete renovation all 151 guestrooms and public spaces. Lighter, brighter and more contemporary, the new design is nonetheless rooted in the building's unique history and pays homage to the hotel's role as muse to generations of guests. The Heathman Hotel has been a Portland touchstone for trave...
Provenance Hotels to Manage Portland’s 150-Room Heathman Hotel
Provenance Hotels | February 21, 2017
February 21, 2017 – PORTLAND, Ore. – A decade after lovingly resuscitating three of Portland's oldest hotels and reintroducing them as Hotel Lucia, Hotel deLuxe and Sentinel, Portland's Provenance Hotels has been rewarded once again for their stewardship and sensitivity to the unique character and story of each property they own or manage. "This feels so validating for us," said Bashar Wali, Provenance's president. "The Heathman is one of the most iconic hotels in Portland; we're excited to make it one of the most luxurious, engaging, and financially successful hotels in the Pacific Northwest." The property's owners sought o...
LaSalle Hotel Properties Acquires The 150-room Heathman Hotel in Portland, Oregon for $64.3 Million
LaSalle Hotel Properties | December 19, 2014
December 19, 2014 - BETHESDA, Md. - LaSalle Hotel Properties (NYSE: LHO) today announced that it acquired The Heathman Hotel in Portland, Oregon for $64.3 million. The Company funded the acquisition with cash on hand. Surrounded by corporate and leisure demand generators, the 150-room hotel is located at 1001 SW Broadway Street in the heart of downtown Portland among the city's concentration of office towers, retail offerings, dining establishments and entertainment venues. The hotel's location within Portland's central business district places its guests within a short walk of several regional corporate headquarters including those of ...
