Kimpton buys Portland’s Riverside Hotel

Kimpton Hotels & Restaurant Group, San Francisco has purchased the 84-room Riverside Hotel, located in Portland, Oregon from Larkspur Hotels & Restaurants, Larkspur, California.

The terms of the deal, which gives Kimpton its third hotel in Portland, were not disclosed. Larkspur reportedly paid US$5.4 million for the property in 2003.

The deal is part of Kimpton’s recent buying spree, which includes the US$40 million purchase of Canary Hotel, located in Santa Barbara, California last month. Kimpton announced in September 2011 that it was raising a US$200 million acquisition fund for hotel purchases.

Guestroom at Riverside Hotel
Guestroom at Riverside Hotel