A luxury hotel in downtown Portland, Oregon, has been sold for $6.83 million, around a decade after it was purchased for $108.3 million.
The 221-room Royal Sonesta was acquired by Laxmi Hotels Group as part of a portfolio deal involving eight properties, according to the Portland Business Journal. Laxmi Hotels Group chief executive Kunal Dave confirmed the transaction to the publication.
The latest sale price represents a reduction of approximately 93.7 per cent from the amount paid for the property ten years ago.
Hotel Portfolio Deal Includes Properties in Minneapolis and Charlotte
The Portland hotel was one of several properties included in the acquisition by Laxmi Hotels Group, which also purchased hotels in Minneapolis and Charlotte.
The Minneapolis Royal Sonesta was sold for $5 million, representing a similar discount of approximately 93 per cent. The property has 360 rooms, according to the St Paul Business Journal.
The transactions involve hotels that previously changed hands for substantially higher prices.
Rooms Available From $145 a Night
The Portland Royal Sonesta was advertising rooms from $145 at the time of the report, with suites priced as high as $236.
The hotel’s current room rates provide an indication of its advertised accommodation prices following the sale.
Drug Market Previously Operated Across the Street
An open-air drug market was previously located across the street from the Portland hotel. The area underwent renovations by property owners, according to the report.
Portland has faced concerns about crime and public disorder since 2020. However, violent offences have recently declined from their record highs, the report said.
The city was among those that considered reducing police funding following the murder of George Floyd in May 2020.
Homelessness and Squatting Remain Concerns in Portland
Homelessness remains a significant issue in Portland. A report by Portland State University’s Homelessness Research and Action Collaborative recorded more than 12,000 people experiencing homelessness, with the figure rising by 67 per cent between 2023 and 2025.
Squatting has also been reported across the city, although it is difficult to measure separately because cases may be recorded under offences such as trespassing, burglary or nuisance property violations.
Oregon also experienced a net loss of 670 residents to other states between 2020 and 2025, according to the Oregon Employment Department. International immigration accounted for much of the state’s population growth during that period.
Reports Detail Drug Use and Assaults in Downtown Portland
The Daily Mail reported witnessing incidents involving people experiencing homelessness and suspected drug use in downtown Portland.
In one account from the previous year, the publication described a woman repeatedly hitting herself in the head and engaging in self-harm while apparently under the influence.
Citizen journalist Kevin Dahlgren and other local residents told the publication that the woman was regularly approached by a group of unidentified men. They alleged that she was taken to a nearby motel or apartment, where she was forced to shower before being sexually assaulted.
Residents familiar with the woman in the Old Town area said the alleged attacks could continue for days before she was returned to the streets. Dahlgren said he feared she was also experiencing serious drug-related problems.
These accounts were reported as allegations by residents and were not presented as findings from a court or official investigation.
Residents Describe Frequent Drug Activity and Property Crime
The report also described a man inhaling a bubbling substance from a piece of scrap aluminium. The man said he had become homeless after losing his job.
In another incident, a person was seen breaking into a vehicle by smashing a window before being arrested.
Dahlgren told the Daily Mail that property crime was common in the area and claimed that police were not consistently intervening in such incidents.
“Crime out here is just really common, this is extremely common,” he said, adding that residents could often hear windows being smashed.
The reported incidents form part of wider concerns about homelessness, drug activity and public safety in parts of Portland.
