NewcrestImage Acquires 174-Key Hotel Zags in Downtown Portland

Dallas-based NewcrestImage has completed the acquisition of The Hotel Zags, a 174-key luxury lifestyle boutique property located in downtown Portland, Oregon. While the specific financial terms of the transaction were not publicly released, NewcrestImage has stated its intention to manage the hotel in-house, further expanding its operational footprint in the hospitality sector.

The Hotel Zags is strategically positioned within Portland’s vibrant Cultural District. The property offers 174 guest rooms and includes 2,700 square feet of adaptable meeting and event space, designed to accommodate various gatherings. Unique amenities contribute to its appeal, such as a free-play retro game arcade, a collection of local artwork, and a distinctive nature-focused courtyard featuring a living wall, lounge areas, and fire pits. Additionally, the hotel houses PLS on Sixth, an onsite restaurant providing American comfort food and cocktails with both indoor and outdoor dining options. This acquisition underscores NewcrestImage's continued investment in high-value hospitality assets in significant urban markets.