The Three Sisters Inn and Suites on NE Third Street in Bend has been sold to a company that has a reputation of revamping older hotels and turning them into nationally recognized properties.

The new owners Camp Fire Hotel LLC, purchased the Bend property for $8 million, according to county tax records.

The same owners redeveloped and rebranded three Oregon hotels — the Jupiter Hotel and the Jupiter Next in Portland, and the Hood River Hotel. They are in the research period now, looking at concepts for the Bend property and could not provide details, said Tod Breslau, senior commercial broker at Premier Property Group.

“We’re working on the concept and ideas, so we don’t have a formal name or brand … to share at this point,” Breslau said in an email.

This will be the second hotel on Third Street to undergo a rebrand and a renovation and one of several new properties to build and develop in Bend and Redmond. If all the projects are completed, there could be several hundred additional rooms for Central Oregon visitors.

Red Lion Inn & Suites on Third Street was rebranded as a Signature Inn, which is operated by the Red Lion chain. Third Street Ventures LLC purchased that hotel and signed a franchise agreement.

At the Three Sisters Inn and Suites, the developers plan to open a boutique-style concept hotel, said Dan Kemp, a broker with Compass Commercial Real Estate Services.

“Gentrification is definitely starting to happen in that area,” Kemp said. “The city’s policies with the Central Business District are aiding the redevelopment and incentivizing business owners.”

Third Street between Division Street and Wilson Avenue is seen as an important corridor in Bend. The city has identified this area for dense development.

During 11 months of 2019, Bend collected about $10 million in transient room taxes, according to data provided by Visit Bend, the visitor marketing group. That’s about $2 million more than the city collected in the same period in 2018, according to the data.

“The redevelopment in the Bend central district has a very positive impact on the overall economy in that projects like Signature Bend, the former Red Lion Inn and Suites, and Three Sisters Inn are effectively catalyzing other redevelopment across office, residential, commercial, and light industrial uses in this part of town,” said Roger Lee, Economic Development for Central Oregon CEO. “We expect the Bend central district to look dramatically different and to have significantly more economic activity happening there over the next decade or two.”

The hotel developers took a run down 1960s motor inn in Portland, and transformed it into a trendy property that caters to adventure travelers, according to the company’s website. The Jupiter offers a variety of packages, including one that is cannabis friendly.

A few years later the developer purchased a second Portland property at 910 E. Burnside St. to develop a restaurant and a six-story hotel called Jupiter Next.

There are several hotels under construction or planned in Bend and Redmond.

* Home2 Suites by Hilton, 115 rooms developed by My Hospitality Investments, SE 27th Street and Livingston Drive, Bend

• Element, 112 rooms developed by 1526 NWW LLC, 1526 NW Wall St., across from Pioneer Park, north of downtown Bend

• Holiday Inn Express & Suites, 109 rooms developed by Brayco LLC South, 61070 U.S. Highway 97, Bend

• Hampton Inn, 100 rooms developed by Heritage Hospitality Group, 3901 SW 21st St., Redmond

• Holiday Inn Express, 96 rooms developed by Heritage Hospitality Group, 4051 SW 21st St., Redmond

• Hallmark Extended Stay Lodge, 129 rooms developed by Hallmark Inns & Resorts Inc., 27th Street and Conners Avenue, Bend

Source: Developers, cities of Bend and Redmond