Portland's Westin hotel bar projects $1.2M revenue this year
The Westin Portland Harborview hotel is projecting $1.2 million in revenue this year from its Top of the East Lounge alone, more than double what it made before finishing renovations in 2013.
Gerry Chase, president of the hotel’s developer, New Castle Hotels & Resorts, told The Wall Street Journal that the bar's success this year has led food-and-beverage sales to account for half of the property's overall revenue. It was expanded as part of the hotel's $50 million renovation project.
In April alone, the hotel's bar on the 15th floor brought in $130,000, a major increase over the $15,000 or less it made in previous years during the same month, the newspaper reported. Occupancy rates also are breaking new records, now at 60% on average, compared to average rates as low as 50% from previous years.
The 289-room Westin hotel reopened last December after completing renovations. New Castle and RockBridge Capital purchased the 87-year-old hotel for $6.9 million in 2011.
Correction: A previous version of this story incorrectly attributed the revenue and sales figures to the overall hotel. It was a reporting error.
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