Beachfront hotel in York sells for $23M
Courtesy / Union Bluff Hotel Facebook Page
Union Bluff Hotel for has a presence on York’s beachfront dating back to 1868, although the structures have been rebuilt since.
A hotel with a historic presence on Short Sands Beach in York sold this week to a large hotel management firm headquartered in Quincy, Mass.
Brent and Mary Jane Merritt sold the Union Bluff Hotel to Giri Hotel Management for $23 million, according to Portland-based Maine Realty Advisors, whose brokers Ryan Carey and Frank Carr represented the sellers.
Giri Hotel Management has 45 New England properties, nearly half of which are in Maine. It trades under hotel brands ranging from Hilton Garden Inn to the Comfort Inn.
“This hotel has an amazing legacy and historic meaning to the town and community. Our leadership team, principals, and investors couldn’t be happier to add this hotel to our family. The Union Bluff is renowned for its class and location, and we are excited for Giri to expand its footprint in Maine. We look forward to working with the amazing team members who have made the Union Bluff successful for so many years, while serving the repeat clientele in York. We will also work with the town and community for future expansion plans.” Ryan Amin, a principal at Giri Hotel Management, said in a press release.
The hotel, at 8 Beech St., has three buildings. The main building has 41 rooms and suites, most with ocean views. In the spring, summer and fall an additional 21 rooms are made available in an adjoining motel-styled annex, according to the hotel’s website.
There’s also a Meeting House building, at 4 Beech St., that can accommodate up to 200 guests. It includes a conference center and ballroom.
“This is a monumental sale in both the hospitality industry and for York County as a community,” Maine Realty Advisors’ president, Josh Soley, told Mainebiz.
Dates to post-Civil War tourism boom
The hotel was originally called the Union Bluff House and was built in 1868 by Moses French, after an explosion of tourism following the Civil War led to the community now known as York Beach.
The hotel’s names and owners changed over the years, but it remained the same in appearance except in the early 1900s, when a second tower was added to the end of the hotel and the central peaked dormer was replaced with a square tower.
The original building was one of the last old wooden structures in York Beach when it was destroyed by fire in 1987.
The hotel was rebuilt two years later.
“It’s a landmark,” said Carey.
The sellers had been operating the establishment since the 1980s.
“They built a phenomenal business,” he said. “It’s what we call a full-service hotel,” run year-round, offering food and beverage, hosting events such as banquets and wedding, and employing over 100 staffers during the summer.
“It’s quite a busy place, especially in the summer,” said Carey.
The sellers were ready to retire and found buyers were paying top-dollar for hospitality properties, he said.
“The time was right,” said Carey.
Off-market deal
Carey and Carr worked with the sellers for about 10 months, although the hotel was never publicly listed for sale.
“We had ample interest from a multitude of buyers across the country,” said Carey. “The buyer has a strong footprint in York County and Southern Maine and also has the scale to take on the a project this big.”
The condition of the property is excellent, having been well maintained over the years, said Carey.
The price was probably not a record for the area but was still a big sale, said Carey.
“Marquee hospitality properties tend to trade in that range,” he said.
45th New England property
Union Bluff is Giri’s 45th New England property.
The hotel is a destination venue for weddings and events in southern Maine and caters to both vacationing tourists and business travelers. It is less than two miles from the Nubble Lighthouse, Cape Neddick, shopping areas and the Maine Antique Trail. It is within an hour's drive to Portland.
“This hotel has an amazing legacy and historic meaning to the town and community,” Ryan Amin, one of Giri’s principals, said in the release.
Giri plans to work with the town and community for future expansion plans, Amin said.
Giri New England has properties in Maine, Massachusetts, New Hampshire and Connecticut. Other Maine-based properties are in Ogunquit, Kennebunk, Bar Harbor, Portland, Freeport, Ellsworth, Saco, Brunswick, Waterville, Bangor, Augusta and Wells.
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Don’t change the name!!!!!!!
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