Boutique investment firm The Wardman Group has closed on the sale of three independent hotels in New England.
The sale includes the recently renovated 65-key Ocean Gate Resort in Southport, Maine; the 57-key Seven Hills Inn in Lenox, Massachusetts; and the 47-key Lodge at Mount Snow in West Dover, Vermont, according to the news release from JLL’s Hotels & Hospitality Group, which represented The Wardman Group. The hotels were sold unencumbered by brand and management. No price was disclosed.
“Vacation destinations throughout New England have performed exceptionally well post-pandemic. We were encouraged by the strong interest from both local and national investors for these unique and well-located boutique inns and resorts,” said Alan Suzuki, managing director at JLL Hotels & Hospitality.
The Ocean Gate Resort is located on 33 acres of woods and ocean-view vistas and is roughly 10 minutes from downtown Boothbay Harbor and 75 minutes from Portland, Maine. It includes a heated outdoor pool and hot tub, a miniature golf course and fire pits. It also provides guests with canoes, kayaks and bikes. According to CoStar data, The Wardman Group acquired the property for $4.4 million in December 2017.
The Seven Hills Inn, completed between 1910 and 1950, sits on 27 acres in the Berkshires region of Massachusetts. The three buildings on site include the Manor House, Carriage House and Terrace House. It offers an outdoor pool, life-size chess, fire pits, two food and beverage outlets and recently renovated guest rooms. CoStar data shows The Wardman Group acquired the property for nearly $2.5 million in June 2018.
Lodge at Mount Snow ski lodge sits on 1.25 acres at the base of Mount Snow. It offers an indoor hot tub, an outdoor pool and fitness center. The Wardman Group acquired the lodge for $900,000 in October 2019, according to CoStar data.