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.

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