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March 13, 2019

Developer will partner with Canopy by Hilton on Portland hotel project

Rendering / Courtesy of Fathom Cos.
Rendering / Courtesy of Fathom Cos.
Fathom Cos. plans a 135-room hotel at 1 Center St. in Portland. It will feature an indoor-outdoor rooftop bar. The rendering shows the hotel as seen from Commercial Street. Today the company announced it will team up with Canopy by Hilton as the franchise to operate the hotel.

Jim Brady's Fathom Cos. will team up with Canopy by Hilton on a new Portland waterfront hotel slated to open in spring 2021, the companies announced on Wednesday.

"I was looking at a number of different franchise brands to go with for that property," Brady told Mainebiz by phone Wednesday from Bethesda, Md. "I was more focused on finding what would be the right fit for our market."

While he didn't say what others had been in consideration, Brady said the team ultimately decided on Canopy by Hilton in part because it's very focused on local neighborhoods, tying in to arts and food and the local cultural scene — which they felt was "a good fit for the Portland marketplace."

Brady, who said he's visited most of the Canopy by Hilton hotels open in the United States, is equally impressed by the energy behind the brand, saying, "they seem to be getting good traction in really top markets in great locations."

In Portland, the planned waterfront hotel is to be located at the corner of Center and Commercial streets and feature the city's first indoor-outdoor rooftop bar and restaurant overlooking Casco Bay.

Wednesday's announcement comes less than three months after Brady told Mainebiz of negotiations over a potential franchise deal.

Brady is president of Fathom Cos., a hospitality management and real estate development firm that focuses on ground-up, historic renovations and repositioning of hotel, office, residential and mixed-use properties.

Fathom Cos. is in the approval process with the city, with a public hearing scheduled before the Historic Preservation Board next month, according to Brady. He said approvals are expected this spring, putting the project on track to break ground in the fall and open by spring 2021 as planned.

Canopy by Hilton is the lifestyle brand of Hilton (NYSE: HLT), a 17-brand hospitality behemoth with more than 5,500 properties in its portfolio, located in 109 countries and territories.

Gary Steffen, global head of Canopy by Hilton, said in Wednesday's news release that the company is "positively thrilled" to introduce the brand to the historic Old Port neighborhood.

"We look forward to inviting guests to enjoy a locally inspired stay as well as the one-of-a-kind dining and shopping venues while visiting Portland, Maine," he added.

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