Union Investment acquires new operators for hotels in New York City and Portland

Two buildings owned by Union Investments
730 565 Hamish Kilburn
  • 0
Union Investment acquires new operators for hotels in New York City and Portland

Union Investment has acquired two new, big-name operators, Motel One and Curio by Hilton, for its hotels in New York City and Portland. Here’s what we know…

The developer Union Investment has signed two leading operators for hotels in New York and Portland, both of which are held by UniImmo: Global. Motel One has signed a 20-year lease for the hotel in New York City. In Portland, Oxford Capital Group, LLC will take over as tenant and manager of The Porter hotel. The hotel will continue to form part of the Curio Collection by Hilton. The hotel in New York City has already been handed over to Motel One, and the hotel in Portland is also due to be handed over this month.

Two buildings owned by Union Investments

“In this challenging market environment, we’re pleased to have found solutions that secure a viable future for these hotels. We have achieved this by teaming with strong hotel partners with whom we have worked closely for many years. The follow-on leases were agreed quickly, underlining just how attractive these two properties and their locations are,” said Martin Schaller, head of Asset Management Hospitality at Union Investment. The previous operators of the two hotels came under pressure as the pandemic unfolded and were no longer able to meet their lease obligations. The operator of The Porter had to pull out of the hotel for financial reasons.

“The toughest part of the journey is now behind us. The US hotel market is already staging a comeback and hoteliers are anticipating a surge in demand. With Motel One and Oxford as operators, our hotels in New York City and Portland are extremely well positioned to benefit from the expected turnaround,” said Martin Schaller.

Motel One’s lease with Union Investment in New York City marks the chain’s entry into the US market. The German hotel group is scheduled to take over the hotel on 21 July. The property is located in downtown Manhattan, close to the World Trade Center complex, and has been operated under the Courtyard by Marriott brand since 2016. Motel One will carry out extensive refurbishment and rebranding. The agreement with the previous operator was terminated prematurely by Union Investment. Motel One already operates lifestyle budget hotels in eight properties held by Union Investment across four funds. “As Motel One’s biggest landlord, we are delighted to have the opportunity to extend our longstanding strategic relationship outside Europe as well. We’re looking forward to jointly bringing this successful lifestyle concept to the local market and travellers from all over the world in the heart of New York very soon.”

Main image credit: Union Investments

Hamish Kilburn / 26.07.2021

Share

  • 0

You might also like

Fun fact: I’m usually the person friends rely on to organise trips, schedules, and group plans.

Workhighlights: Successfully coordinating events from planning through to delivery and seeing everything come together on the day.

Fun fact: xxxxxxxxxxxxx

Work highlights: xxxxxxxxxxxxxxxx

Fun fact: People tell Sienna she gives off Bridget Jones vibes, and she loves to bake, always making sure there are shortbreads floating around the office

Work highlights: Sienna joined Forum Events & Media Group while studying Communications and Media, starting in the sales team where she managed and helped launch the first the PA Life Leading Venues of London SHOWCASE, where she built relationships with luxury venues across the capital. Drawn to the stories behind these spaces, she naturally transitioned into the editorial team, creating social media and editorial content. Upon graduating in June 2026, she is excited to be joining as Assistant Editor for Hotel Designs and SPACE.

Fun fact: When not working, Jess can usually be found tending to her kitchen garden in the Sussex countryside or foraging for herbs in the nearby woods. A keen grower, she recently studied a RHS Level 2 Diploma in the Principles of Horticulture during her spare time.

Work highlights: Jess joined SPACE magazine in 2022 and has since progressed from Assistant Editor to Editor. During this time, she has worked across many aspects of the publication – from shaping editorial strategy and overseeing operations to contributing to art direction and representing the brand on stage at industry events including Surface Design Show and WOW!house.

Alongside her role at SPACE, Jess has built a creative career spanning the arts, culture, design and travel sectors. Prior to joining the magazine, she spent more than a decade in the commercial art industry, in artist liaison, gallery management, and curating collections for the hospitality sector across hotels and cruise ships. During this time, she also worked on freelance projects as a writer, photographer, and creative content producer.
 
Jess studied photojournalism at London College of Communication and the Danish School of Media and Journalism and holds a first-class BA (Hons) in Culture, Criticism and Curation from Central Saint Martins.

Fun fact: Katy has spent years perfecting all kinds of accents and loves a good impersonation!

Work highlights: Katy has been with Hotel Designs since the beginning, way back in 2015 when Forum Events & Media Group acquired the brand.

During this time, she has fostered many meaningful relationships with clients from across the hospitality spectrum, as well as playing a pivotal role in the launch of The Brit List Awards, Hotel Designs MEET UPs, client-led roundtables and panel talks, brand and website redesigns, HD Wellness Sets, DESIGN POD podcast, Hotel Designs LIVE panel talk series, Accessible Design Talks and more. Katy is always on the lookout for the next opportunity to help grow the Hotel Designs brand even further.
 
Most recently Katy has stepped in to the role of Publisher atSPACE magazine, the printed bi-monthly publication focused on hotel design, architecture, and development.
Together these platforms offer a comprehensive 360-degree service encompassing digital media, print publishing, and live events – providing unparalleled value to advertisers, partners, and readers alike.