Portman, a real estate investment, development and management firm, acquired the Westin Cincinnati, a 456-key, full-service hotel located on Fountain Square in downtown Cincinnati. The deal marks Portman’s first hotel acquisition and the official launch of its value-add strategy, an evolution of the firm’s national real estate investment capabilities.
The Westin Cincinnati is centrally in the city’s commercial and cultural hub. It has direct access to Cincinnati's premier entertainment venues and event spaces, including Paycor Stadium, Great American Ball Park, the Duke Energy Convention Center, the Contemporary Arts Center and the newly revitalized Court Street Plaza. The hotel features 456 spacious rooms and suites, more than 30,000 square feet of meeting and event space, an onsite restaurant and bar and a 24-hour fitness studio.
As part of its ownership strategy and business plan, Portman will leverage its best-in-class development platform to evaluate a possible comprehensive renovation of the hotel.
“The Westin Cincinnati is a terrific representation of the opportunity we are seeking across our hospitality platform: a world-class brand, impactful and irreplaceable real estate in a major market, and the potential to create long-term value through thoughtful investment and operational enhancement,” Kaunteya Chitnis, managing director of hospitality at Portman, said in a statement. “We look forward to leveraging our 70-year legacy in hospitality to help shape the future of this great American city.”
Portman also serve as the master developer for the new Convention Center headquarters hotel that will anchor the $828 million Convention District redevelopment. Portman recently named Marriott as the official partner for the new 700-key, full-service hotel. Notably, downtown Cincinnati continues to see a surge of public and private reinvestment, with increased residential density and new infrastructure projects fueling demand for high-quality hospitality.
The Westin Cincinnati is Portman’s second Westin-branded property and part of a broader collaboration that includes multiple Marriott-affiliated assets. With this acquisition, Portman’s hospitality portfolio now 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.