Amaterra Hospitality Group has acquired the RiverPlace Hotel in Portland and selected CoralTree Hospitality to manage the waterfront property. Other terms and conditions were not disclosed.
Located along the Willamette River on Portland's south waterfront, RiverPlace Hotel has 85 guestrooms and suites, meeting and event space, a waterfront restaurant and access to the city's riverfront trails, marina and downtown attractions. RiverPlace Hotel features RiverPlace Kitchen and Bar, more than 7,000 sq.-feet of indoor and outdoor meeting and event space, including a ballroom, executive boardroom, meeting rooms and a riverside courtyard.
The acquisition represents Portland, Ore.-based Amaterra Hospitality Group's entry into hotel ownership. The company’s portfolio includes Amaterra Winery, a winery, restaurant and event venue set in Portland's West Hills, as well as and Amaterra Kitchen + Social Club, a downtown restaurant, event venue and wine experience in Bend, Ore.
“RiverPlace has long been one of Portland's most treasured hotels and a gateway to our waterfront,” Marcus Breuer, co-founder of Amaterra Hospitality Group, said in a statement. "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.”
“We are thrilled to expand our presence in the Pacific Northwest with the addition of RiverPlace to our management portfolio," added Tom Luersen, president of Denver, Colo.-based CoralTree Hospitality.