Three Portland Hotels Headed for Foreclosure amid Rampant Rioting, Homelessness
Three hotels in Portland, Ore., are set for foreclosure after missing mortgage payments, according to documents reviewed by Willamette Week, indicating that residents and tourists have chosen to abandon the city after years marked by riots and homelessness.
The Portland Hilton and its partner building, the Duniway Hotel, which together make up the largest hotel in the city, are set to be put up for auction September 13 by the bank responsible for its mortgage, according to the outlet. Both hotels failed to pay their mortgage payments and the “owners of the building owe more than $270 million to the bank,” the outlet reported.
A third hotel, the Dossier Hotel, was set to be put up for auction November 29 after owing the lender $8.7 million as of May, according to the outlet.
After being contacted by the WW, Provenance Hotels, the parent company of the affiliate that owns the Dossier, claimed that it had reached a deal to avoid foreclosure. However, the foreclosure process is still ongoing and the deal has not been finalized, according to the outlet.
Provenance Hotels “reached an agreement with LNR Partners on loan modification terms and is in the process of closing the deal, which will bring the loan current. There will be no foreclosure of the property,” the company said in a statement.
“We have been attempting to resolve this issue with LNR Partners for two years and have always had the funding to bring the loan current,” the statement continued. “We look forward to putting this matter behind us.”
A hotel in downtown Portland, the Benson Hotel, complained about losing two major corporate clients due to the city’s conditions.
“Too many homeless and crazy people running around. Suffice to say, I’m furious!” a Benson top executive wrote in an email, according to the outlet.
Portland has been subject to rioters who have destroyed parts of the city on numerous occasions, including after the Supreme Court overturned Roe v. Wade, and following the acquittal of Kyle Rittenhouse. After the death of George Floyd in 2020, rioters laid siege to the federal courthouse every night for over three months, firebombing the building and vandalizing adjacent property.
The city is also struggling with an increasing homelessness problem. On Tuesday, disabled Portland residents sued the city for allowing homeless people to camp out on its sidewalks in tents, failing to ensure the sidewalks are accessible to people with disabilities and visual impairments.
One of the lawyers behind the suit, John DiLorenzo, said Portland has done “virtually nothing” about the homeless camps blocking the sidewalks, “other than, from time to time, a series of sweeps that are pretty inhumane and just move people around.”
