Vesta Hospitality purchases Surfsand Resort

Aug. 15—Vesta Hospitality has added Surfsand Resort in Cannon Beach to its collection of hotels for a price tag of $58 million.

Surfsand, established in 1977, is a beachfront property with views of Haystack Rock. It was previously part of the Martin North hotel group, which includes the Stephanie Inn and Public Coast Brewing Co.

Vesta is planning a $9 million renovation for the property. Rick Takach, Vesta's CEO, said plan details will be finalized in the fall.

"We're forecasting a top-to-bottom renovation with updated public areas, guest rooms, meeting spaces, a refreshed restaurant and a new suite of guest amenities," Takach said in an emailed statement to The Astorian. "We plan for construction to take place in fall 2023 and winter 2024. No property closures are scheduled, and we anticipate minimal disruptions to guests."

The Vancouver, Washington, hospitality group purchased the Cannery Pier Hotel & Spa in Astoria in 2019 and runs the Best Western Agate Beach in Newport. Both underwent multimillion-dollar renovations after Vesta purchased them.

Takach said that they kept every existing staff member at Surfsand who wanted to stay and plan to add three more positions.

"We paid an incentive bonus for the hourly staff to continue for the summer and offered an incentive for the management team to stay for a year," he said. "Hopefully, they will all stay and build their career with our company."

The Surfsand property has 95 rooms.

"The revenues and profit stream reported by the previous owners made the property a competitive acquisition, and we're thrilled to add the Surfsand Resort to our portfolio," Takach said.

Vesta also announced that Linh DePledge, the general manager at Cannery Pier, has been promoted to director of brand and communications for Vesta's three coastal hotels. She will be staying in her position at the Cannery Pier until a replacement is chosen.