The Press Hotel, a prominent establishment located in downtown Portland, has been purchased by a New York-based real estate investment company. The transaction was finalized earlier this week, marking a change in ownership for the well-known hotel.
The new owner, a firm headquartered in New York, acquired the property from its previous proprietors, though the sale price was not disclosed. The Press Hotel, which operates at 119 Exchange Street, is situated in the former headquarters of the Portland Press Herald newspaper.
Since opening in 2015, the hotel has been recognized for its design that pays tribute to its journalistic heritage, featuring décor and themes inspired by the building’s history as a newspaper office. The property includes 110 guest rooms, a restaurant, and event spaces, and has received several awards for its hospitality and design.
According to representatives from the purchasing firm, the acquisition aligns with their strategy of investing in high-quality hospitality assets in key urban markets. The company stated that it plans to maintain the hotel’s current branding and management team, with no immediate changes anticipated for guests or staff.
Local officials and business leaders have noted the Press Hotel’s role in Portland’s tourism and hospitality sector, highlighting its contribution to the city’s downtown revitalization efforts. The hotel’s location and unique history have made it a notable destination for visitors to the region.
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