Provenance Hotels, an owner and operator of boutique hotels, announced the strategic sale of its minority interests in the Woodlark Hotel to majority shareholder NBP Capital, a vertically integrated commercial real estate investment platform. In connection with the transaction, NBP has also acquired the management rights to the hotel. Terms of the deal were not disclosed.
The Woodlark Hotel is a 151-room hotel housed within two historic structures brought together as one in the heart of downtown Portland. The Woodlark utilizes Portland’s surroundings and reinterprets them in a fresh way, balancing sophisticated beauty with rich substance, nuance and soul. The hotel’s recent accolades include Conde Nast Traveler 2020 Reader’s Choice Award, TIME World’s Greatest Places 2019, Fodor’s Best Hotels in the USA 2019, Forbes’ Best Hotels in Portland and Indie Congress’s Most Innovative Hotel Design.
“This is a strategic business move by NBP to acquire management
