The historic Manchester, Vt., resort features 195 guestrooms, 18,500 sq. ft. of meeting and event space, an 18-hole championship golf course, a 13,000-sq. ft. spa, and five food and beverage outlets. The new owner plans to spend more than $6 million on additional enhancements, including a guestroom renovation, public/meeting space, and building improvements.
Carey Watermark Investors Incorporated has acquired The Equinox Golf Resort & Spa, part of Starwood’s The Luxury Collection brand.
The expansive, historic resort is located on 1,300 acres between the Green and Taconic Mountains in Manchester, Vt., and includes 195 guestrooms, 18,500 sq. ft. t of flexible meeting and event space, an 18-hole championship golf course, a 13,000-sq. ft. spa, five food and beverage outlets and a range of unique guest amenities and experiences.
Originally built in 1796, the resort, which is listed on the National Register of Historic Places, has hosted four different American Presidents and has expanded over the centuries. In 2008, the property was converted to a resort and became part of The Luxury Collection brand. Since 2007, over $20 million in capital expenditure projects were completed, including a full guestroom and public area renovation, as well as significant investment into the mechanical, electrical, plumbing and building façade.
CWI 1 plans to spend in excess of $6 million on additional property enhancements, including a soft goods guestroom renovation, public/meeting space and food and beverage outlet improvements and other building/mechanical upgrades.
Popular seasonal activities and sports include golfing, fly fishing, hiking, boating, mountain biking and horseback riding. The resort also benefits from significant downhill and cross-country ski demand due to its proximity to Bromley and Stratton, two award-winning ski mountains located within a 20-minute drive.
“The Equinox transaction allowed us to acquire an iconic Northeastern resort that significantly benefits from its proximity to both Boston and New York City,” said Michael Medzigian, Chief Executive Officer of CWI. “The addition of this high-yielding and stable cash flow generating asset is consistent with our strategy of acquiring assets that are positioned to generate attractive near-term cash flow and increase in value over time by maintaining their competitive advantage.”
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