Residential hospitality operator Sentral will expand its portfolio into two new markets with management contracts at The Sutton in Portland, Oregon and Otonomus Hotel in Las Vegas.
“Each of these markets represents an important piece of Sentral’s overarching strategy to be in the most vibrant, desirable neighborhoods across the country, and to continue expanding into markets where we add value with our hospitality-style services and amenities,” said Lisa Yeh, president of Sentral. “We see a growing demand for curated lifestyle experiences that are community-focused, and this presents opportunities for owners to grow their revenue and NOI.”
The Sutton (1550 NW Naito Pkwy), developed by Lincoln Property Company in partnership with Bridge Investment Group, is a 236-apartment community along the Willamette River in the North Pearl District. Twenty-five of the apartments are designer-furnished and available for 30-plus night stays. Floorplans range from studios to two-bedrooms and are available with stunning riverfront and mountain views. Among the full-service amenities are waterfront rooftop terraces; a game room; a social club; private co-working spaces; a state-of-the-art fitness center with on-demand digital fitness rooms and a pet spa and grooming room.
Otonomus Hotel (at West Russell Rd. at South Decatur Blvd.), developed by Growth Holdings, is located just blocks from Allegiant Stadium and the famed Las Vegas Strip and is slated to open in early 2025. It is the first of a new, AI-driven, sustainability-focused hotel concept that provides a full array of premium hospitality services that can be managed and customized using a dedicated mobile app. Among the services available are Tesla V3 Superchargers that deliver up to 250kW to each connected vehicle, resulting in significantly reduced charging times. The hotel will be made up of 60% hotel rooms and 40% apartments, including both traditional 12-month leases and designer-furnished short-term rentals.
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