Downtown Portland Marriott Downtown Waterfront changes hands for $30.1 million, far below 2013 price

Sale marks one of the steepest value resets among major downtown Portland hospitality properties

The Portland Marriott Downtown Waterfront, a 506-room hotel on the Willamette River at 1401 SW Naito Parkway, sold on Feb. 4, 2026, for $30.1 million, a price that reflects a sharp decline from its prior reported sale price of $82.8 million in November 2013. The transaction represents an approximate 63% drop from the 2013 level, based on those reported figures.

The buyer was Sculptor Capital Management. The sellers were AllianceBernstein L.P. and DiNapoli Capital Partners. Based on the sale price, the deal equates to roughly $59,500 per room, a metric commonly used in hotel investment to compare transactions across markets and property sizes.

What the property is and how it fits into Portland’s hotel landscape

The Portland Marriott Downtown Waterfront is a large, full-service convention and group-oriented hotel property with extensive meeting and event space, positioned along Portland’s central waterfront near downtown attractions and transit. The hotel originally opened in 1980 and underwent a major renovation in 2015, according to publicly available building and property records.

As an operating hotel, the sale does not indicate a closure or a change in brand affiliation. The hotel continues to be marketed under the Marriott flag and remains part of the company’s reservation and loyalty ecosystem.

Why the “63% discount” framing matters—and what it does not prove

Comparisons to a prior sale can help quantify the change in market value over time, but they do not, on their own, explain why value shifted. Hotel pricing can be influenced by multiple factors, including operating performance, future capital needs, interest rates, the cost and availability of debt, and broader investor expectations for downtown recovery and travel demand.

The reported $30.1 million figure is described as a price “including debt,” which is significant because it suggests the transaction structure may include assumed or restructured financing rather than a simple cash purchase. That structure can affect comparisons to past sales, depending on how earlier transactions were financed.

Key transaction details at a glance

• Property: Portland Marriott Downtown Waterfront

• Address: 1401 SW Naito Parkway, Portland

• Rooms: 506

• Sale date: Feb. 4, 2026

• Sale price: $30.1 million (reported as including debt)

• Prior reported sale price: $82.8 million (November 2013)

• Buyer: Sculptor Capital Management

• Sellers: AllianceBernstein L.P. and DiNapoli Capital Partners

The transaction illustrates the repricing that has occurred for some large downtown assets since the previous decade’s peak valuations.

What to watch next

The sale is likely to be closely watched by commercial real estate market participants because it provides a recent benchmark for a sizable, branded hotel in Portland’s downtown core. Future indicators will include any announced plans for capital improvements, changes to management strategy, and updated assessments of the property’s performance as travel and event demand evolves in 2026.