With our in-depth knowledge of how things work in the hospitality industry, Stellarum* provides owner representation services to hotel and hospitality real estate.

Inn at the Convention Center Portland, OR Asset Management

Stellarum* was retained after a public RFP to assist the City of Portland’s redevelopment agency, Prosper Portland, with its 97-room select-service Inn at the Convention Center hotel. What was originally a 3-year contract was renewed 3 times. When Stellarum* started its engagement, the hotel was leased to an operator under a 50%/50% profit-sharing agreement and the City was being criticized for leaving money on the table. Stellarum* prepared a white paper on the pros and cons of switching to an owned with third-party management model, and when the lease expired, Stellarum* assisted in drafting the RFP for third-party management services. Stellarum* has prepared numerous cash flow forecasts for proposed renovation programs and assisted in steering the hotel through a temporary shut down during the pandemic, and its reopening. When the third-party manager’s term expired, Stellarum assisted in a second management company selection and transition.