BPM Real Estate to bring Ritz-Carlton to Portland, Ore.

BPM Real Estate Group's upcoming 35-story mixed-use tower will house The Ritz-Carlton, Portland. Photo credit: GBD Architects

Marriott International and BPM Real Estate Group signed an agreement to open the first The Ritz-Carlton hotel in Portland, Ore. The hotel will be housed in BPM’s nearly $600 million, 35-story mixed-use tower.

Construction on the hotel is scheduled to begin later this year, with an opening slated for early 2023. Under the arrangement, The Ritz-Carlton brand will manage 251 hotel rooms and 138 residential units, including eight penthouses. The hotel will feature a fitness center, full-service spa and swimming pool. The Ritz-Carlton Residences will provide additional amenities, such as an eighth-floor owner’s lounge and fitness facility.

BPM’s tower will also include multiple food-and-beverage venues, 13,000 square feet of meeting space, retail space and high-end office space. The site is a few blocks from Pioneer Courthouse Square and Pioneer Place and within walking distance of the city’s central business district and the Pearl District.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

Suggested Articles

The latest report from STR shows negative year-over-year results in the three key performance metrics during the week of July 7-13.

Ritesh Agarwal, the company's 25-year-old founder and CEO, has signed a $2 billion primary and secondary management investment round.

By year's end, the Turkish hotel company will have five properties along the Red Sea and Mediterranean.