Provenance Hotels and NBP Capital purchase Seattle's Roosevelt Hotel

Provenance Hotels partnered with NBP Capital to purchase the Roosevelt Hotel in Seattle from North Coast Washington which, in partnership with Provenance Hotels, owned the property since 1985. The property will continue to be affiliated with Coast Hotels for the next 60 days until Provenance Hotels assumes management.

Opened in 1930, the 151 room Roosevelt Hotel is located at the intersection of 7th Avenue and Pine Street in downtown Seattle, across the street from the Washington State Convention Center, steps from the central business district, in the heart of the retail core, just a few blocks from Pike Place Market and the waterfront. The acquisition of the Roosevelt Hotel is the second joint acquisition for NBP Capital and Provenance Hotels in two weeks. Earlier this month, they announced their purchase of the historic Woodlark and Cornelius buildings in downtown Portland, Ore. and intent to launch an adaptive reuse project that will renovate the properties into a 150 room hotel.

When completed, the project will join Hotel Max and Hotel 1000 as Provenance Hotels’ third owned and operated hotel in Seattle. The company also owns and manages Portland’s Hotel Lucia, Hotel deLuxe and Sentinel as well as Hotel Murano in Tacoma, Wash. and Hotel Preston in Nashville, Tenn. Provenance Hotels is slated to open the Old No. 77 Hotel & Chandlery New Orleans in spring 2015 and is developing a hotel in the Woodlark and Cornelius buildings in Portland with NBP Capital. In addition Provenance Hotels owns the Westin Portland and Paramount Hotel in Seattle.

Virtual Event

Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.