PORTLAND, Ore.
Pebblebrook Hotel Trust purchased The Nines Hotel for $127 million. The luxury hotel is located across from Pioneer Square, in the heart of downtown Portland. The property will maintain association with Starwood's Luxury Collection Brand and Sage Hospitality.
The Nines Hotel is a 331-room full service hotel located on SW Morrison St. It is located within a mile of the nearly one-million-square-foot Oregon Convention Center. The hotel features 13,478 square feet of meeting space and is LEED certified.
Urban Farmer Steakhouse and Departure Restaurant and Lounge offer local and sustainable ingredients in the hotel's lobby and rooftop, respectively. The Departure Resaurant and Lounge features views of the city and surrounding mountains.
Pebblebrook Hotel Trust expects to invest $6 to $8 million of capital to refresh the guest rooms and public areas, which it anticipates commencing in the fourth quarter of 2015.
