Vesta Hospitality Acquires Cannon Beach Hotel For $58M

A 95-key hotel located at 148 W Gower Ave in Cannon Beach, OR has been sold for $58,000,000. The transaction took place on 08/03/2022.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $58,000,000
• Market: Cannon Beach, OR
• Buyer: Vesta Hospitality
• Broker: Sonnenblick-Eichner Company

Vesta Hospitality, represented by Sonnenblick-Eichner Company, acquired the hotel property in the transaction. The deal marks a significant investment in the Cannon Beach hotel market.