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Provenance Hotels Sells Interest in Portland’s Woodlark Hotel
Provenance Hotels, the owner and operator of boutique hotel properties, has announced the sale of its minority interests in the Woodlark Hotel in downtown Portland, OR. Majority shareholder NBP Capital assumed full interest of the property and has also acquired management rights to the Hotel. Terms were not disclosed.
The Woodlark Hotel is a 151-room property within two historic structures brought together. The Woodlark has earned several accolades including the Conde Nast Traveler 2020 Reader’s Choice Award, Fodor’s Best Hotels in the USA 2019 and Indie Congress’ Most Innovative Hotel Design.
“This mutually beneficially transaction presented a great opportunity to monetize one of Provenance’s minority interests,” said the company’s President and CEO Katy Durant. “We are pleased to have closed this transaction with NBP and will continue to work with them on two other projects in Seattle.”
- ◦Sale/Acquisition
