The high bidder for Alaska's ferry named Taku wants to turn the 352-foot vessel into a waterfront hotel and restaurant in Oregon.
The Juneau Empire reports that Portland resident Jonathan Cohen's $300,000 bid on Friday was six times higher than the next bid.
The Alaska Department of Transportation entertained three offers - all below its reserve price of $350,000 - and is in the process of selecting a winner.
Cohen represents a group of Portland investors who plan to make the ferry a floating hotel at a pier in northwest Portland.
Cohen said the Taku would be home to hostel-style accommodations as well as individual rooms, with the surrounding pier being a terminal for river-related activities.
Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.