Is anyone even considering Portland? It would keep the team in the west and make a great west coast rivalry. It’s a great sports town
Houston would also keep a team in the West. The league wouldn’t even have to realign divisions as a move from Arizona to Houston would keep the team in the Central division.
I get that Houston would technically keep a team in the west, but Houston is only west to you East Coast people. We are from the REAL West. 
I just think there’s enough hockey fans in the Pacific Northwest that we could do with the Portland rivalry. And another team on the I-5 Corridor might be kind of cool.
EDIT - let’s put it this way. IMO “west” should be confined to Pacific and Mountain time zones. Central and Eastern times can be “East”
I can't speak intelligently about Portland as a sports town, but aren't the Blazers the only game in town (along with the Single-A Hillsboro Hops, I guess)? It's certainly got the population to support a team, but is there any interest?
As the NHL as it currently exists, 16 of its teams are in the eastern time zone, with the other 16 spread across the central, mountain and Pacific time zones. If you want to limit the Western Conference to the Pacific and mountain time zones, then you'll have 22 teams in the Eastern Conference and only 10 in the Western Conference.
The biggest cities in the Pacific time zone that don't have teams are San Francisco, Long Beach, San Diego, Portland and Sacramento/Fresno. San Francisco and Long Beach are pretty well covered by the Sharks, Kings and Ducks (although it's possible that the Bay area could support a second team). In the mountain time zone, you've got El Paso, Albuquerque, Colorado Springs/Aurora and a few Arizona cities (mostly suburbs of Phoenix). SLC doesn't make the list on its own, but the metro area is probably big enough. I suppose it's possible that the Denver metro area could support a second team (reincarnation of the Colorado Rockies?).
In short, there simply aren't many decent options for those time zones. I know it'll never happen (especially since the league added two teams in the last 10 years), but contraction would be a better option.