Pebblebrook sells loss-making Portland hotel to NewcrestImage for $10M
13 sourcesUpdated Oct 10, 20261 min read
Sponsored
Pebblebrook Hotel Trust sold the 174-room Hotel Zags in downtown Portland to NewcrestImage for $10 million, completing the transaction on October 8, 2026. The hotel recorded an estimated $800,000 net operating loss and $600,000 EBITDA loss for the 12 months ended August 31; NewcrestImage plans to manage the property in-house. Pebblebrook expects to use the proceeds for general corporate purposes, including possible share repurchases, and said the sale will not change its third-quarter outlook; it plans to reflect the transaction in its fourth-quarter and updated full-year outlook.
Sponsored
Claim check
What each side asserts, disputes — or leaves out entirely.
Where do you land?
Whose framing of this story rings truest to you?
Sponsored
