Portman, the full-service real estate investment, development and management firm, executed over $680 million in hospitality financing activity in 2025 across acquisitions, refinancing and loan modifications. This activity lowered Portman’s hotel portfolio’s weighted average interest rate by over 150 basis points.

Among the activity was a $237.5 million refinancing of the Hyatt Regency Salt Lake City, a 700-key hotel that opened in 2022 and is connected to the Salt Palace Convention Center. Notably, the original construction loan was refinanced with a SASB CMBS loan while keeping the existing CPACE loan in place from the original financing – a first-of-its-kind for the hospitality industry. The five-year, fully extended loan was priced at SOFR +286.1 bps and resulted in a return of equity to partners.

Last summer, Portman acquired the Westin Cincinnati, a 456-key, full-service hotel in the heart of downtown. The deal marked Portman’s first hotel acquisition and the official launch of its value-add acquisition strategy, a strategic evolution of the firm’s national real estate investment capabilities.

“Last year’s financing activity is a direct result of Portman’s focus on its hotel investment management capabilities,” said Kaunteya Chitnis, Managing Director of Hospitality at Portman. “This execution further reinforces our position of long-term hotel ownership to achieve long-term returns. Portman has a 70-year legacy in hospitality, and our team is uniquely positioned to be a leader in the hotel space, whether we are enhancing returns on existing assets, pursuing ground-up development, or executing value-add hotel acquisitions.”

In the past 12 months, Portman has significantly invested in expanding its hospitality team through strategic hires focused on acquisition, strategic operations and asset management. Its hospitality portfolio includes seven hotels across five markets, totaling more than 3,000 rooms and over $1 billion in assets under management. As part of its new strategy, Portman is actively seeking additional acquisition opportunities in major U.S. markets.

“Hotels are resilient,” continued Chitnis. “Despite short-term macro headwinds, we continue to see upward trends in consumer spending and a growing demand for the experiential economy, which, coupled with a favorable long-term supply story, are positive bellwethers for the future growth of the industry. Looking ahead, we will focus on growing Portman’s hotel portfolio by making strategic acquisitions that leverage our team’s unique capabilities and add long-term value.”

To learn more about Portman, visit portmanholdings.com.