Hospitality group acquires Traverse City resort for $23.2 million

BY Thursday, January 03, 2019 12:47pm

TRAVERSE CITY — The Greenwich Hospitality Corp. has purchased a northern Michigan beachside resort hotel.

Through an affiliate, the group acquired West Bay Beach Holiday Inn Resort, a 179-room full-service waterfront resort in Traverse City, for $23.2 million, according to a statement. The resort was built in 1968 and is located on the West Bay in downtown Traverse City.

“Northern Michigan is one of America’s greatest year-round destinations and offers a variety of sporting, cultural, and scenic opportunities," Greenwich Hospitality CEO said in a statement. “We are excited to bring the Delamar brand of hospitality to this beautiful part of the world."

The affiliated Delamar Traverse City LLC includes mostly Michiganders with multi-generational ties to the Grand Traverse and Leelanau area, according to a statement. Greenwich Hospitality 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 a planned $10 million renovation over two years. The resort will remain open during the project.

Plans also call for a protected docking facility for transient and overnight visitors, and a residential development component.

The ownership group is comprised of Mallory, as well as George Cochran, an entrepreneur from Maple City. Novi- and Traverse City-based Cunningham-Limp Development Co., Grand Rapids-based Ghafari Concept Design and Kyle Evans Design LLC of Northport will provide construction and design services for the project.

Read 6168 times Last modified on Sunday, 06 January 2019 20:14