May 9th, 2014 | MATTHEW KORFHAGE News | Posted In: Business

Liquor License Application Points to Identity of Nines Hotel Buyer

Probable owner recently also bought Hotel Modera

DISH_Departure_3717SET PHASERS TO TASTY: Departure’s Chef Gregory Gourdet plates an order of crispy pork belly with pickled cherries. - IMAGE: chrisryanphoto.com

It appears that the troubled Nines Hotel has found a buyer.

A Pebblebrook Hotel Trust subsidiary has filed an application May 7 to take over the liquor license of the Nines Hotel, Departure rooftop restaurant and Urban Farmer steakhouse. 

The Nines hotel had been in financial straits this week until the Portland Development Commission decided to accept an $11.5 million buyout on $18.2 million in debt. The hotel's management company, Sage Hospitality, had told the Oregonian that another publicly traded company was planning to take over the Nines, but would not disclose that company's identity.

From this OLCC filing, it would appear that Pebblebrook Hotel Trust—who recently acquired like-minded Portland boutique Hotel Modera for $47.5 million—is the suitor for the hotel. Pebblebrook also owns Vintage Plaza, and 26 other hotels nationwide.

Neither current Nines owner Sage Hospitality, nor Pebblebrook Hotel Trust, have returned calls for comment.




 
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