Hotel AG Closes The Riverhouse Hotel & Convention Center in Bend, Oregon
ATLANTA - March 11, 2015 - Hotel AG announced today the firm has closed on the sale of The Riverhouse Hotel & Convention Center located in Bend, Oregon.
The Riverhouse Hotel & Convention Center is a full-service hotel and conference center considered one of the premier meeting destinations in the Northwest. The property consists of 220 guestrooms and a 30,000-square-foot LEED Silver meeting facility situated on 15 acres along the Deschutes River in the center of Bend.
"Bend has been a hot spot for decades offering visitors year-round activities and The Riverhouse Hotel & Convention Center has been a hospitality cornerstone in the market for many years," remarked Chris Stark, a partner with Hotel AG. "This recent transaction is a perfect example of putting together a buyer and seller that see eye-to-eye and are motivated to work through the complexities of a deal of this size and stature. The buyer has deep understanding and appreciation of the Bend market and recognized the long-term growth potential and value-added components of the property. We are excited to see the buyer take this property to the next level and steward the asset to positively impact asset performance, guest experience and Bend tourism as a whole."
About Hotel AG
Hotel AG is a national hotel brokerage firm headquartered in Atlanta, Georgia with offices around the country. The firm has been involved in 1 hotel transaction every 5 days for the past 3 years. Today, Hotel AG has 201 hotels on the market with a market cap value of $2.7 billion. The firm specializes in select service and full service hotels within the US and works with CMBS lenders, whole loan banks, REITs, public companies, investment funds and private investors. The firm has 17 national brokers and 21 partners and can be found online at www.hotelassetsgroup.com.published: 03-11-2015