Iconic Oregon beachfront resort heads for $9 million makeover

by | 19 Aug 2022 | Hotel Projects, Projects, Refurbishments

Imagery courtesy of Sonnenblick-Eichner Company.

Surfsand Resort in Cannon Beach, Oregon, USA, is to undergo a $9 million renovation to further enhance the hotel and its amenities.

The refurbishment has been scheduled after Vancouver, Washington-headquartered hotel operator Vesta Hospitality purchased the 95-room property, the only full-service resort of its kind on the Oregon coast.

Beverly Hills-based real estate investment banking firm Sonnenblick-Eichner Company arranged the $58 million sale and $40.6 million of acquisition financing of the fee simple and leasehold interests.

Unique quality

Elliot Eichner, a principal and co-founder of Sonnenblick-Eichner Company, said: “Given the unique institutional quality of this oceanfront property, we were able to orchestrate a competitive sale process resulting in a transaction that had minimal contingencies and a timely closing. Recognising that we had financed the resort three times previously for the seller, the buyer engaged us to finance their acquisition and renovation of the property.”

Patrick Brown, also a principal of Sonnenblick-Eichner Company, commented: “Adding to the wide appeal of this resort is the fact that there are tremendous barriers to entry in the Cannon Beach market and that the resort has always experienced consistent sustainable income.”

Vesta’s Vancouver venture

Vesta Hospitality has also recently overseen the opening of AC Marriott Vancouver in its local US neighbourhood. The waterfront property added 150 keys to the AC by Marriott brand in June.

Destination dining includes the AC Kitchen, which serves a daily European-style breakfast and the AC Lounge, serving locally brewed beers and handcrafted cocktails with chef-created large and small plates. The design-led hotel also offers seven meeting rooms with 11,500 sq ft of flexible meeting space.

Related Articles

European hotel company Kempinski debuts in Vietnam

European hotel company Kempinski debuts in Vietnam

The riverside resort will be rooted in Vietnamese culture and heritage and designed by Japanese architectural studio Kengo Kuma & Associates. Kempinski Saigon River will have 100 guestrooms and suites,and is currently being developed in cooperation with Vietnamese...

Mandarin Oriental announces first Rome venture

Mandarin Oriental announces first Rome venture

The hotel will be housed in ten 19th-century villas, originally built as homes for prosperous Romans, surrounded by landscaped gardens. The secluded site is located between Via Piemonte and Via Sallustiana within The Gardens of Sallust, an ancient Roman archaeological...

Project of the Week: Waldorf Astoria London Admiralty Arch

Project of the Week: Waldorf Astoria London Admiralty Arch

An unrivalled location in a historic setting Admiralty Arch was sold by the British government on a 125-year lease in 2011, and approved for use as a hotel by Westminster Council in 2013.  The iconic London landmark was originally commissioned by King Edward VII in...

Accor expands TRIBE brand in Europe

Accor expands TRIBE brand in Europe

The latest opening in Riga, the Latvian capital, will join a growing portfolio of hotels from the design-led Accor TRIBE brand.  TRIBE Riga City is located in the Art Nouveau district of Riga city centre. The new hotel is an 81-key property with rooms featuring either...

[showlayout id=510774]

[et_pb_blog_extras posts_number=”6″ include_post_tag=”74431″ blog_layout=”full_width” excerpt_length=”0″ show_more=”off” show_author=”off” show_date=”off” show_categories=”off” show_comments=”off” module_class=”blog-sidebar-list” _builder_version=”4.17.4″ _module_preset=”default” header_text_align=”left” header_text_color=”#58585A” header_font_size=”16px” meta_text_align=”left” background_color=”#ffffff” locked=”off” global_colors_info=”{}”][/et_pb_blog_extras]