# Luxury downtown Portland hotel bought for $108m in 2016 sells for just $6.83m a decade later in latest sign of progressive city’s ongoing decline

- URL: https://talkfuse.com/story/luxury-downtown-portland-hotel-bought-for-108m-in-2016-sells-for-just-6-83m-a-decade-later-in-latest-sign-of-progressive-citys-ongoing-decline/
- Published: 2026-10-28T14:12:52+00:00
- Updated: 2026-10-28T14:18:34+00:00
- Original publisher: Daily Mail (publisher lean: Right)
- Original article: https://www.dailymail.com/news/article-16245645/luxury-hotel-portland-sale-decline.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
- Topics: Americas, Business, Health, Markets, Medicine, World

## Key points

- Portland’s Royal Sonesta sold for $6.83 million.
- That is about 94 per cent below its 2016 price.
- The sale comes amid wider concerns over homelessness and city conditions.

## Summary

The Royal Sonesta hotel in downtown Portland has been bought for $6.83 million, around 94 per cent less than the $108.3 million paid for it a decade ago. The sale is part of a wider portfolio deal and comes amid continuing concerns about the city’s safety, homelessness and quality of life, although the article notes that violent offences have recently fallen from record highs.

The 221-room hotel was acquired by Laxmi Hotels Group, whose purchase also included properties in Minneapolis and Charlotte; its Minneapolis Royal Sonesta reportedly sold at a similar discount, for $5 million. Portland hotel rooms were listed from $145, while the article cites a Portland State University report recording more than 12,000 people experiencing homelessness and a 67 per cent increase between 2023 and 2025. It also says Oregon lost a net 670 residents to other states from 2020 to 2025.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.