A once-popular destination for tourists in North Bonneville, Washington — a city about 45 miles east of Portland, Oregon — is back in the hospitality space after a change of ownership this past year.
Universal Health Services sold the 78-room hospitality building to Fusion Lodging for $12.3 million on Oct. 1, 2024, according to CoStar data. The property was vacant at the time of the sale, as Universal Health Services' plans to convert it into a treatment center never materialized.
The Bonneville Hot Springs Resort & Spa is now open following renovations to convert the property from a brand-new medical facility to hospitality. The newly renovated property stands at 68 rooms.
The deal was recognized as the sale/acquisition of the year in Portland as part of the 2025 CoStar Impact Awards, which were judged by real estate professionals familiar with the market.
North Bonneville is in Skamania County, the largest landmass county in Washington. About 264,000 tourists visit the county each year to check out the Columbia River Gorge.
The addition of the North Bonneville Hot Springs Resort & Spa will increase tourism dollars and could lead to further residential development in the area.
About the project: The three-story property in North Bonneville, Washington, has a gross building area of 130,656 square feet, including 1,500 square feet of meeting space.
What the judges said: "Resorts and regional destinations like Bonneville Hot Springs and Resort play an important role in regional economies and in the memories of guests, but they are complicated real estate ventures. The linking of opportunity and interested buyer is a success," said Will Dowdy, community development director for the city of Eugene. And Julia Freybote, associate professor of finance and real estate in the school of business at Portland State University, said, "This deal has the potential to be a catalyst for economic development and future real estate developments in this area."
They made it happen: At More Realty, Coreen Gamble, commercial broker, business broker, tenant representation and land acquisition, Allen J. Riddle, commercial broker, Oregon and Washington, and Scott Dunn, principal broker and commercial manager.