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Seattle & Northwest  + Hospitality  | 

Xenia Lands Recently-Built Hyatt Regency in PDX for $190M

Orlando-FL-based Xenia Hotels & Resorts acquired the 600-room Hyatt Regency Portland at the Oregon Convention Center for $190 million. The newly-christened 14-story property at 375 NE Holladay St. was developed by Minneapolis-based M.A. Mortenson Co.

Xenia’s chairman and CEO Marcel Verbaas said on the company’s earnings call this week, “On the acquisition side, we were thrilled to acquire the 600-room Hyatt Regency Portland for $190 million, or approximately $317,000 per key, a very attractive basis for this high-quality, newly-developed hotel.”

The development of the new hotel in tandem with upgrades made to the Oregon Convention Center is expected to help the Rose City attract more convention business. The Hyatt Regency property will serve as a convention HQ hotel, which did not exist previously.

The acquisition was funded with cash available on the Xenia’s balance sheet and its Senior Unsecured Revolving Credit Facility. The acquisition is part of a portfolio upgrade strategy.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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