Amaterra Hospitality Group Buys RiverPlace Hotel in Portland

Source: Hotel Executive

Read the full report at Hotel Executive. What the article says:

• Deal / Size / Buyer

  Amaterra Hospitality Group, owners of Amaterra Winery in Portland and Amaterra Kitchen + Social Club in Bend, announces its next chapter: the acquisition of Portland's landmark RiverPlace Hotel, a distinctive waterfront destination. This marks the beginning of a new chapter for the property, as Amaterra Hospitality Group focuses on participation in the revitalization of Portland's waterfront and enhancing one of the city's most prominent hospitality assets. Amaterra Hospitality Group selected CoralTree Hospitality to manage the property. Located along the Willamette River on Portland's south waterfront, RiverPlace offers a rare resort-style experience in the heart of downtown. The property features 85 guestrooms and suites, many with sweeping river views and residential-inspired amenities, along with premier dining, outdoor gathering spaces and flexible meeting and event venues overlooking the marina and waterfront. The acquisition is a significant investment by lifelong Portlanders Colleen Nistler, Werner Nistler Jr. and Marcus Breuer of Amaterra, whose vision is centered on restoring vitality and energy to Portland's waterfront while preserving the authentic character that has made RiverPlace a favorite among visitors and locals alike. "RiverPlace has long been one of Portland's most treasured hotels and a gateway to our waterfront," said Breuer, co-founder of Amaterra Hospitality Group. "As champions of our region, we believe deeply in the future of this city and the importance of creating vibrant spaces that bring people together. Our investment in RiverPlace reflects a commitment to the continued revitalization of the waterfront and to preserving a property that embodies the spirit, beauty and hospitality of Portland." CoralTree President Tom Luersen said the opportunity builds upon the company's expanding portfolio and success throughout the Pacific Northwest. "We are thrilled to expand our presence in the Pacific Northwest with the addition of RiverPlace to our management portfolio," said Luersen. "This is an iconic property in one of the region's most dynamic urban destinations. CoralTree has a long history of operating distinctive hotels and resorts throughout the Northwest and beyond, with a focus on creating authentic guest experiences that reflect the character of each destination. We see tremendous opportunity to further elevate the RiverPlace experience while honoring its longstanding connection to the Portland community and waterfront." RiverPlace is known for its unique waterfront setting, offering guests direct access to Portland's riverfront trails, marinas, parks and downtown cultural attractions. The hotel also features RiverPlace Kitchen and Bar, a Pacific Northwest-inspired restaurant celebrating regional seafood and local flavors, as well as inviting outdoor spaces with panoramic views of the Willamette River. For groups, weddings and special events, RiverPlace offers more than 7,000 square feet of flexible indoor and outdoor function space, including a ballroom, executive boardroom, meeting rooms, and a riverside courtyard designed to showcase the property's waterfront setting. As the hotel enters its next phase, ownership and management will work together to enhance the guest experience, strengthen community connections and reinforce RiverPlace Hotel's position as Portland's premier waterfront hotel.

• Deal

  Amaterra Hospitality Group Acquires Riverplace Hotel in Portland, Oregon