October 9, 2026 – NewcrestImage has acquired The Hotel Zags, a 174-room luxury lifestyle boutique hotel in downtown Portland, Oregon, from Pebblebrook Hotel Trust. The hotel will be managed in-house by NewcrestImage.
“This hotel continues to build our portfolio through both geographic and segment diversification,” said Mehul Patel, Managing Partner of NewcrestImage. “It also demonstrates our corporate commitment to acquisition as a core growth strategy.”
The dog-friendly hotel is home to PLS on Sixth, a restaurant with indoor and outdoor seating and two private dining rooms. Guests also enjoy 2,700 square feet of flexible meeting and event space, a free-play retro game arcade, a curated collection of local artwork, complimentary nightly s’mores, and a nature-inspired courtyard with a living wall, lounge areas, and firepits. A kid-friendly patio features a sandbox and toys.
Located in Portland’s Cultural District, The Hotel Zags was completely renovated and rebranded in 2019. Nearby are Pioneer Place, Tom McCall Waterfront Park, art galleries, boutique shops, coffee houses, and Powell’s City of Books, the world’s largest independent bookstore.