Tpg Hotels, Resorts & Marinas Acquires Danfords Hotel, Marina & Spa in Port Jefferson, New York
TPG Hotels, Resorts & Marinas, one of the nation's premier hospitality management firms, announced that it acquired the iconic Danfords Hotel, Marina & Spa located in Port Jefferson, New York. Surrounded by spectacular views of Long Island Sound - and nestled in the heart of historic Port Jefferson Village - Danfords Hotel, Marina & Spa boasts 92 upscale guest rooms and suites and a world-class marina featuring more than 100 slips and over 1,000 feet of side to tie with the capacity to accommodate vessels up to 250' in length.
Danfords onsite restaurant and lounge, WAVE, offers rare waterfront dining on the docks or the outdoor deck, as well as indoor dining with spectacular panoramic views. Danfords Hotel, Marina & Spa, has approximately 14,000 square feet of meeting and function space to accommodate weddings, special occasions, or events and also features The Butterfly Spa offering guests a complete menu of luxurious spa services. Additionally, as part of the transaction, TPG Hotels, Resorts & Marinas will also manage catering operations at Waterview Restaurant located at the Port Jefferson Country Club.
"Danfords Hotel, Marina & Spa in Port Jefferson, NY is a remarkable destination located in one of the highest barriers to entry markets in all of North America," stated Robert Leven, Chief Investment Officer of Procaccianti Companies. "Danfords is a perfect fit as we accelerate the growth of our recently launched Marina platform. We have several more acquisitions in the pipeline and intend to have a significant concentration of East Coast Marina properties by the end of 2021."
Danfords is one of three acquisitions in the last seven months in TPG's newly launched Marina platform. TPG acquired Dutch Harbor Boat Yard in Jamestown, RI, in June 2021 and Champlins Hotel, Resort, and Marina located on Block Island, RI in December 2020, which is currently undergoing extensive renovations as part of a comprehensive property improvement plan.
"It is not common to find the perfect buyer, but in this case, we have achieved success," said Enrico Scarda, Managing Partner of The Crest Group, parent to Crest Hospitality, a national hospitality company, who was the seller in the transaction.
TPG Hotels, Resorts & Marinas will embark on a property improvement plan, including resort-wide modernization, which includes the lodging and slip reservation systems, and a full renovation of the resort's guest rooms. Additional renovations and improvements are also planned for the marina facilities.
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