Luxury Hotel In One Of America's Wokest Cities Sells At Shocking 94% Loss
Summary
Luxury Hotel In One Of America's Wokest Cities Sells At Shocking 94% Loss A luxury hotel in downtown Portland has sold for 93.6% less than its previous purchase price , according to the Portland Business Journal . The 221-room Royal Sonesta hotel, located at 506 S.W. Washington St., was purchased for just $6.83 million by an entity linked to Laxmi Hotels Group. The property last sold for $108.3 million in 2016, a staggering $101.5 million more than its latest sale price . The bargain-basement deal was part of a larger eight-property hotel portfolio acquired by Laxmi. The steep markdown comes…
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Luxury Hotel In One Of America's Wokest Cities Sells At Shocking 94% Loss
Luxury Hotel In One Of America's Wokest Cities Sells At Shocking 94% Loss A luxury hotel in downtown Portland has sold for 93.6% less than its previous purchase price , according to the Portland Business Journal . The 221-room Royal Sonesta hotel, located at 506 S.W....
