Gurney's Resorts Adds The 107-Room Montauk Yacht Club Resort & Marina to Portfolio; $13 Million Renovation Planned

USA, New York City, New York. May 21, 2018

Gurney's Resorts announces the addition of The
Montauk Yacht Club Resort & Marina, an institution in the
destination, as the brand's second property in the
Hamptons. George Filopoulos of Metrovest Equities and Lloyd Goldman of
BLDG Management, owners of Gurney's Montauk Resort & Seawater Spa,
purchased the Montauk Yacht Club and are leading the transition of the
property.

Known as Gurney's Montauk Yacht Club & Resort moving forward,
this is the third property for the Gurney's brand, which expands its
footprint in Montauk and is steadily expanding and becoming synonymous
with classic coastal destinations.  MEI Hospitality will manage and
market the asset as it does for Gurney's Montauk Resort & Seawater
Spa, The Residences at Gurney's, and Gurney's Newport Resort &
Marina.

Gurney's Montauk Yacht Club & Resort will immediately upgrade the
guest experience including enhanced food and beverage led by LDV
Hospitality. LDV Hospitality's acclaimed brands include Scarpetta Beach
in the Hamptons and recently opened Scarpetta NoMad.

The property will close this winter to undergo an approximately $13
million property-wide upgrade to the 107 guestrooms, ballroom, meeting
rooms, three restaurants, and 35-acre marina and grounds, complete in
time for the 2019 season.  As the largest marina in the Hamptons and the
second marina property for Gurney's, the Yacht Club plans to deliver a
full-service experience and fine food and beverage to the boating
community.

 “The Montauk Yacht Club is respected in the Hamptons as much as in the yachting community,” said President and Owner George Filopoulos.  “We're looking forward to elevating the property and its offerings for weddings, groups, and leisure guests, and to now creating opportunities for our guests between our resort and marina destinations in Montauk and Newport.”

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