CHICAGO—Oxford Capital Group, LLC today announces the signing of a long-term lease agreement for The Porter Hotel Portland (218 SW Jefferson Street) with the owner of the property, Germany’s Union Investment. Part of the Curio Collection by Hilton, The Porter is a recently developed 16-story, 296-room high design, full service, luxury lifestyle hotel located at the corner of 2nd Ave. and Columbia St. in downtown Portland’s Fountain District.
Guests and locals alike will benefit from The Porter’s four unique food and beverage outlets which will re-open sequentially as demand returns. The first venue to resume operations immediately upon reopening of the hotel will be The Portland Exchange Grocer & Goods, a modern take on the traditional delicatessen concept; Xport Bar & Lounge, an expansive rooftop venue which features spacious decks with unparalleled views of the mountains, will open next as the summer/fall office and financial district re-gain momentum. Also slated for future re-openings are Chiosco Pizza Window and Terrane Italian Kitchen + Bar, offering classic Italian flavors crafted with seasonal and locally-sourced ingredients. Banquets and group meetings will resume as restrictions are eased. Additional amenities include more than 12,000 square feet of indoor/outdoor event space, a fitness center, sauna and steam room, indoor pool and whirlpool. The property is within walking distance to the Arlene Schnitzer Concert Hall, Keller Auditorium as well as Portland Art Museum. Other popular attractions like the Oregon Convention Center, Moda Center, Portland Art Museum, and Portland Zoo are just a short drive away.
“We are excited to expand on Oxford’s strong relationship with Union Investment via this lease and management agreement on The Porter Hotel Portland. This builds on our successful multi-year collaboration with them on The Godfrey Hotel Boston and LondonHouse Chicago. We are confident that Oxford’s sophisticated, high-touch and metrics-based management approach will allow this beautiful new property to achieve its full potential,” says John W. Rutledge, Founder, Chairman, and Chief Executive Officer of Oxford Hotels & Resorts, LLC and its parent company, Chicago-based Oxford Capital Group, LLC.
“The Porter Portland is characterized by an excellent micro-location and high property quality. Despite the pandemic, the operators’ interest in such properties remains high and we have held a large number of exploratory talks. Ultimately, in addition to the economic terms of the contract, the good prior experience with the tenant and manager and Oxford’s high level of expertise in the management of gastronomy-oriented lifestyle hotels were decisive for Union Investment. With “The Porter” in Portland, we are now expanding the trusting partnership and look forward to continue on the road to mutual success,” says Martin Schaller, Head of Asset Management Hospitality at Union Investment.
“We are extremely excited that the Porter Portland will soon be welcoming guests to one of the city’s premier hotels, with unmatched amenities in the heart of downtown,” says George Jordan, President of Oxford Hotels & Resorts, LLC. “As a Curio Collection Hotel by Hilton, guests will also be rewarded through participation in HHonors, Hilton’s best in class guest loyalty program.”
The Porter Hotel Portland transaction is structured as a long-term lease covering 100% of the total rentable area of almost 200,000 square feet. With the lease and management agreement finalized, Oxford and Union Investment can re-open the hotel and capitalize on post-Covid market recovery.