RobertDouglas Advises Institutional Real Estate Owner on The Sale of The Mountain View Grand Resort & Spa in Whitefield, NH
RobertDouglas announced today that it advised an institutional ownership group on the sale of the 141-room Mountain View Grand Resort & Spa. Evan Hurd, Principal and Managing Director with RobertDouglas, made the announcement.
The Mountain View Grand Resort & Spa originally opened in 1865 and is well-known for its rich history and fairytale backdrop amidst the spectacular White Mountains. The Resort's 141 guestrooms and suites, nine-hole golf course, Tower Spa, 20,000 square feet of event space, and other unique amenities make it an unforgettable destination for leisure and business travelers alike.
"Performance at the resort achieved record revenues and profitability post-pandemic. Being on 1,700 acres, there are also abundant opportunities to add value with expanded capacity or uses," said Hurd. "As a result, we witnessed robust interest from diverse buyer groups, including funds, institutional and high net worth investors."
The Property is within a day's drive of a population of 100-million people and is easily accessible from major cities including Boston, New York City, and Montreal. Nearby are several ski mountains, amusement and state parks, and other outdoor attractions making this Resort an exceptional urban getaway.
"We expect to see continued strong appeal for domestic drive-to resorts with great locations. New England, in particular, is appealing because of its proximity to many affluent travelers and the ability to take mini vacations with hardly any travel time," commented Stephen O'Connor, Principal and Managing Director with RobertDouglas.
"In addition to the Resort's exceptional post-pandemic performance, developable acreage and ‘sweet spot' location, Ownership was a committed steward of the Resort during their tenure, and, as a result, investors responded positively to the Property's excellent condition," said Alexander Bauman, an Associate with RobertDouglas.