Amaterra Hospitality Group, the team behind Amaterra Winery, has snapped up the RiverPlace Hotel, the 85-room waterfront spot on Portland’s south waterfront, according to Multnomah County records. The deal, recorded this week, puts the long-time riverfront mainstay in the hands of Portland-based Colleen and Werner Nistler Jr., along with co-founder Marcus Breuer. CoralTree Hospitality is set to run the hotel while the new owners sort out what the next chapter on the Willamette will look like.
The sale price clocked in at $11 million, based on Multnomah County records reported by KOIN. The transaction includes the hotel at 1510 S Harbor Way as well as its on-site RiverPlace Kitchen & Bar. Amaterra outlined the deal and its management partnership in a company announcement carried by Wine Industry Advisor.
Amaterra Brings Winery Values To The Waterfront
In the release shared via Wine Industry Advisor, Amaterra co-founder Marcus Breuer called the property “one of Portland’s most treasured hotels and a gateway to our waterfront.” He said the new ownership group sees the purchase as part of a broader push to keep the hotel’s character intact while turning it into an even bigger draw for food, wine and events.
CoralTree To Run Day-To-Day Operations
To keep the lights on and the events calendar full, Amaterra has tapped CoralTree Hospitality to manage RiverPlace. CoralTree President Tom Luersen said the assignment expands the company’s Pacific Northwest portfolio, according to Hotel Business. Under the new setup, CoralTree will handle operations, sales and events, while Amaterra focuses on ownership and what it describes as “place-making.”
What This Means For Portland
The timing of the deal is notable. Portland’s hotel market is still on shaky legs, and the RiverPlace last sold in the mid-2010s at a significantly higher price than this latest trade, with analysts noting the city’s hotel recovery trails many comparable markets, according to the Portland Business Journal. The property offers more than 7,000 square feet of flexible event space and an on-site restaurant, making it a prime spot for weddings and conferences, according to the hotel’s website. The RiverPlace Hotel website is still accepting reservations as word of the new ownership rolls out.
So far, Amaterra and CoralTree are keeping some cards close to the vest. Neither has shared full purchase terms or a detailed timeline for renovations or any potential rebranding. Both, however, have said in statements that they plan to “enhance the guest experience” and strengthen ties with the local community, according to industry coverage. One big open question: whether the property hangs onto its current Kimpton flag or shifts to a new brand, a detail that local wedding planners and event vendors will be tracking closely.
