The 275-room hotel is located on 6th Avenue, adjacent to the Hult Center and in close proximity to the University of Oregon.
Asia/Pacific hotel occupancy rose 0.4% to 68.5%, ADR grew 1.1% to $96.53 and RevPAR increased 1.5% to $66.15.
The first two UrCove hotels are expected to open in Shanghai and Beijing by late 2020.
Simon today announced it has commenced construction to bring the AC Hotel by Marriott brand to Sawgrass Mills, the largest outlet and value retail shopping destination in the United States. The 174-room hotel is expected to open in late 2020 a timeframe that would coincide with the shopping center's 30th anniversary.