EconomicUnited States·29 Oct 2026
Portland Luxury Hotel Sells for 94% Less Than Previous Purchase Price
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The 221-room Royal Sonesta hotel in downtown Portland was sold for $6.83 million, representing a 93.6% decrease from its 2016 purchase price of $108.3 million. An entity linked to Laxmi Hotels Group acquired the property as part of a larger eight-hotel portfolio purchase. The sale followed years of downtown challenges, including documented issues with…
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