Union Investment buys Portland's The Porter, a Curio by Hilton

The Porter hotel in Portland, Ore. Photo credit: Union Investment

Union Investment acquired The Porter, a boutique lifestyle hotel in Portland, Ore., which opened at the beginning of the year.

Offering 294 rooms, the property is part of the Curio Collection by Hilton brand. The developer, vendor and operator of the hotel is Widewaters Hotels, which already developed and acquired 38 hotels and currently successfully operates 18 hotels in the US. The purchase price is roughly $150 million, with the acquisition being made on behalf of open-ended real estate fund Unilmmo: Global. Recently, the fund acquired the planned Thompson brand boutique and lifestyle hotel in Washington D.C.

The Porter is located at the intersection of SW 2nd Avenue and SW Columbia Street in downtown Portland, which is the city’s central business district. Portland is Union Investment’s sixth hotel location in the US, and its second on the West Coast. The Hamburg-based real estate investment manager previously acquired the Hilton Garden Inn Seattle in 2017.

Virtual Event


Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.

“With its high construction quality, exceptional high-end accommodation concept and excellent location in Portland’s business district, The Porter is the ideal addition to our U.S. portfolio, which is set to grow at a similar pace going forward as in recent years,” Andreas Löcher, head of investment management hospitality at Union Investment Real Estate, said in a statement.

The Curio Collection by Hilton brand has been represented in Union Investment’s holdings since 2016, when sister fund Unilmmo: Europa purchased the LondonHouse hotel with 452 rooms in central Chicago.

The Porter comprises 16 stories, with the hotel’s 294 rooms arranged across 13 levels. In addition, the hotel has an upmarket restaurant on the ground floor, a coffee bar and a grab-and-go market, plus a rooftop restaurant with additional lounge. In keeping with the hotel’s location in the central business district, it also provides almost 4,000 square feet of conference space. Additional amenities include a heated indoor pool and a fitness center that offers individual meditation and yoga rooms.

Suggested Articles

The absolute occupancy and RevPAR levels were the lowest for any Q3 in STR’s U.S. database.

Implementation of Volara’s contactless guest engagement and touchless room controls system is part of a rollout by Viceroy Hotels & Resorts.

U.S. hotel occupancy was virtually flat at 50.1 percent during the week of Oct. 11-17, according to the latest data from STR.