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

Parga Beach Resort reveals significant expansion plans

Parga Beach Resort reveals significant expansion plans

On opening for the summer season, the beach resort will unveil a collection of luxurious new suites, along with a new restaurant, kids’ club, and adults-only pool area. A year for growth Following a record-breaking year for the property, with sales up 25% in 2023...

Kerzner International launches first wellness-focused SIRO hotel

Kerzner International launches first wellness-focused SIRO hotel

Described as the ultimate hotel for fitness and recovery, this new property is designed to empower guests to unlock their peak mental and physical potential. A new hospitality concept The inaugural property for Kerzner International’s new SIRO hotel brand, SIRO One...

Marriott adds Marquis brand in Dubai

Marriott adds Marquis brand in Dubai

Marriott has added to its presence in the Middle East by signing to brand a hotel in Dubai Creek under its Marquis brand.  The property is set within five towers looking across Dubai Creek, with opening scheduled for March 2024. Part of the Jewel of the Creek project,...

Accor opens Hotel Sosei under the MGallery brand in Sapporo

Accor opens Hotel Sosei under the MGallery brand in Sapporo

Transforming a private townhouse in Sapporo’s culturally rich Sosei East neighbourhood, Hotel Sosei Sapporo combines Japanese tradition with touches of modernity. Drawing on the surroundings As it takes over a former residence of the city’s pioneer district, the...

The Ritz-Carlton Dallas, Las Colinas opens following transformation

The Ritz-Carlton Dallas, Las Colinas opens following transformation

When it opened at the end of January, this newly transformed property became the latest hotel to join The Ritz-Carlton's collection of over 110 hotels and resorts worldwide. A property-wide transformation Following its 2022 acquisition by Trinity Investments and...

Firmdale Hotels’ third New York property opens in Tribeca

Firmdale Hotels’ third New York property opens in Tribeca

Just like its sister New York properties, Crosby Street and The Whitby, Warren Street Hotel comes with the bright and bold interior design of Kit Kemp Design Studio. A reflection of the area First distinguished by its blue exterior and bright yellow top, before then...