The Greenwich Hospitality Group (GHG) Completes $23.2 million Acquisition of West Bay Beach Holiday Inn Resort in Traverse City, Michigan
GREENWICH, Conn., Jan. 3, 2019 /PRNewswire/ -- The Greenwich Hospitality Group (GHG) today announced its acquisition of West Bay Beach Holiday Inn Resort in Traverse City, Michigan for $23.2 million. The 179-room full service waterfront resort, originally built in 1968, is located on the West Bay in downtown Traverse City. The purchasing entity, DELAMAR Traverse City, LLC, consists of mostly Michiganders with multi-generational ties to Grand Traverse and Leelanau Counties. Greenwich Hospitality Group owns and manages hotels in Connecticut, Texas, and Vermont.
The hotel will be elevated to a four-star property and rebranded DELAMAR Traverse City after undergoing an extensive $10 million+ transformation phased over a two-year period, during which it will remain open. DELAMAR is the flagship brand of Greenwich Hospitality. In addition to the transformation of existing buildings, plans include a protected docking facility for transient and overnight visitors and a synergistic residential development component.
"Northern Michigan is one of America's greatest year-round destinations and offers a variety of sporting, cultural, and scenic opportunities," said Charles Mallory CEO of GHG. "We are excited to bring the DELAMAR brand of hospitality to this beautiful part of the world."
According to Mallory, The West Bay Beach Resort has similar characteristics to GHG's DELAMAR Greenwich Harbor, which is known for its beautiful rooms and public spaces, highly acclaimed destination waterfront restaurant and banquet facility, active dock, spa, and exemplary guest service.
The ownership group is comprised of Charles Mallory CEO of GHG, and George Cochran, an entrepreneur who lives in Maple City, MI. Cunningham-Limp of Novi and Traverse City, Ghafari Concept Design of Grand Rapids, and Kyle Evans of Northport and Miami will provide construction and design services, respectively.
About The Greenwich Hospitality Group
Founded in Greenwich, CT in 1999, Greenwich Hospitality Group owns and operates boutique style hotels both in and outside of Connecticut. Comprised of seasoned hospitality professionals, Greenwich Hospitality Group draws on a keen understanding of sophisticated standards of guest service and amenities combined with a distinctly customized approach to the hotel experience. Founder Charles Mallory's passion for historic preservation, art, and design set the course for the young hotel company, leading him to invest in hotels that in some cases he "brought back to life" through creatively reinventing and repositioning. For more information visit GreenwichHospitality.com.
About The DELAMAR Hotels
The DELAMAR Hotels are award-winning luxury destination hotels in Connecticut, located in Greenwich, Southport and West Hartford. The picturesque views and easy access to shopping and local attractions are perfect for a romantic getaway, family retreat, business meeting, elegant wedding or savory sojourn for foodies. The DELAMAR Hotels are a family-owned business that provides a superior experience with first-class service. All of the hotels feature the popular DELAMAR Spa and each hotel offers a noteworthy dining experience on property. For more information visit DELAMAR.com.
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SOURCE The Greenwich Hospitality Group (GHG)
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