Portland’s Press Hotel, has been sold to New York-based EOS Investors for an undisclosed price.
The real estate investment firm bought the luxury hotel from San-Francisco-based private equity company KHP Capital Partners, which had purchased it in 2021 from Portland developer Jim Brady.
Brady’s Fathom Cos. had transformed the circa 1923 former Portland Press Herald building, at 119 Exchange St., into a seven-story hotel in 2015. The hotel operates as part of Marriott's Autograph Collection.
The Press Hotel boasts 110 guest rooms and suites, the Union restaurant, the Inkwell cocktail lounge, 3,000 square feet of meeting space and a fitness center.
The Press Hotel at 119 Exchange St., with Portland City Hall in the background. PHOTO / PETER VAN ALLEN
EOS Investors LLC is a real estate investment platform founded in 2017 by Jonathan Wang, which focuses on hospitality, hospitality credit, and residential sectors. The company owns 11 hotels in Maine, 16 in New England.
"This acquisition aligns with our strategy of investing in high-quality, leisure-driven assets where we see opportunity to further enhance performance and unlock additional value," said Jenna Kronenfeld, head of acquisitions at EOS Investors. "Our prior investments and established presence in Maine uniquely positioned EOS to pursue this opportunity.”
The Congress Street entrance to the Union restaurant at the Press Hotel. PHOTO / PETER VAN ALLEN
Simon Mais, CEO of EOS Hospitality, said the company "is committed to building upon the hotel's existing strengths and continuing to deliver an exceptional guest experience.
"Through EOS Hospitality's operational platform, we see opportunities to refine the property's offerings while preserving the qualities that have made it a well-known destination for visitors to Portland," he added.
