{"id":1004289761,"date":"2019-01-07T08:07:36","date_gmt":"2019-01-07T16:07:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004289761"},"modified":"2022-12-07T21:40:36","modified_gmt":"2022-12-08T05:40:36","slug":"greenwich-hospitality-group-acquires-mi-resort-for-23m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/greenwich-hospitality-group-acquires-mi-resort-for-23m\/","title":{"rendered":"Greenwich Hospitality Group Acquires MI Resort for $23M"},"content":{"rendered":"

By Holly Dutton<\/p>\n

\"\"<\/a>

West Bay Beach Holiday Inn Resort<\/p><\/div>\n

The Greenwich Hospitality Group (GHG) has acquired West Bay Beach Holiday Inn Resort in Traverse City, Mich., for $23.2 million. GHG plans to spend two years and more than $10 million renovating the 179-key waterfront resort.<\/p>\n

Completed in 1968, the property is situated on the West Bay of Lake Michigan in downtown Traverse City. The company plans to raise the hotel\u2019s status from a three- to a four-star property and rebrand it as DELAMAR Traverse City after an extensive renovation plan over a two-year period, during which it will remain open. DELAMAR is the flagship brand of Greenwich Hospitality.<\/p>\n

In addition to the renovation campaign of existing buildings, the company plans to develop a protected docking facility for transient and overnight visitors and a \u201csynergistic\u201d<\/em> residential development component, according to the company.<\/p>\n

“Northern Michigan is one of America’s greatest year-round destinations and offers a variety of sporting, cultural, and scenic opportunities,”<\/em> Charles Mallory, CEO of GHG, said in prepared remarks. “We are excited to bring the DELAMAR brand of hospitality to this beautiful part of the world.”<\/em><\/p>\n

Image via Flickr Creative Commons user WestBayBeachResortHotel<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The new owner plans to spend two years and more than $10 million to upgrade and renovate the 179-key waterfront property.<\/p>\n","protected":false},"author":745,"featured_media":1004289983,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21751,21783,13,21742],"tags":[43589],"class_list":["post-1004289761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotel","category-investment","category-midwest","category-latest","tag-greenwich-hospitality-group"],"acf":[],"yoast_head":"\nGreenwich Hospitality Group Acquires MI Resort for $23M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/greenwich-hospitality-group-acquires-mi-resort-for-23m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Greenwich Hospitality Group Acquires MI Resort for $23M\" \/>\n<meta property=\"og:description\" content=\"The new owner plans to spend two years and more than $10 million to upgrade and renovate the 179-key waterfront property.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/greenwich-hospitality-group-acquires-mi-resort-for-23m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-07T16:07:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T05:40:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/9574767583_00e1c848ca_o-e1546877186412.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2815\" \/>\n\t<meta property=\"og:image:height\" content=\"2111\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Holly Dutton\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/greenwich-hospitality-group-acquires-mi-resort-for-23m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/greenwich-hospitality-group-acquires-mi-resort-for-23m\\\/\"},\"author\":{\"name\":\"Holly Dutton\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9259ffaba4775229ae3556b9555e566d\"},\"headline\":\"Greenwich Hospitality Group Acquires MI Resort for $23M\",\"datePublished\":\"2019-01-07T16:07:36+00:00\",\"dateModified\":\"2022-12-08T05:40:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/greenwich-hospitality-group-acquires-mi-resort-for-23m\\\/\"},\"wordCount\":212,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/greenwich-hospitality-group-acquires-mi-resort-for-23m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/01\\\/9574767583_00e1c848ca_o-e1546877186412.jpg\",\"keywords\":[\"Greenwich Hospitality Group\"],\"articleSection\":[\"Hotel\",\"Investment\",\"Midwest\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/greenwich-hospitality-group-acquires-mi-resort-for-23m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/greenwich-hospitality-group-acquires-mi-resort-for-23m\\\/\",\"name\":\"Greenwich Hospitality Group Acquires MI Resort for $23M - 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