Courtesy / Daigle Commercial Group Inc.
The Juniper Hill Inn has a main inn, a standalone cottage and adjacent, buildable lots.
Updated: February 19, 2024
Massachusetts hotelier Giri adds two Ogunquit properties to Maine portfolio
Courtesy / Daigle Commercial Group Inc.
The Gorges Grant Hotel includes two hotel buildings that date back to 1986, plus employee housing and 112 paved parking spots.
After acquiring the 249-room Anchorage by the Sea in Ogunquit a year ago, a large hotel management firm headquartered in Quincy, Mass., has bought two additional hotels in the coastal York County town.
Giri Hotel Management LLC bought the Gorges Grant Hotel at 449 Main St. and the Juniper Hill Inn at 336 Main St., along with adjacent properties and additional land sold from long-time owners Hanson Properties LLC, Gorges Grant Hotel LLC and Juniper Hill Inn LLC.
The properties were exclusively listed with Daigle Commercial Group Inc. Roger Daigle and Bridget Conley facilitated the sales with the buyer and represented the seller.
The package price was undisclosed but was “north of $35 million,” said Daigle, who called it a “landmark sale” for Ogunquit.
The hotels were listed individually at $23 million or as a package for $45 million, Daigle said.
Gorges Grant
Gorges Grant, on 4.65 acres, was marketed as having 81 “luxurious” rooms and amenities such as heated indoor and outdoor pools, Jacuzzi and golf privileges at the nearby private Cape Neddick Country Club, as well as being a good location within a short stroll of art galleries, boutiques, antique shops and more.
There are two hotel buildings that date back to 1986, plus employee housing and 112 paved parking spots.
Amenities include a “grand” lobby and a lobby workstation in the main building, heated indoor and outdoor pools, fitness room and guest laundry room.
Four additional structures include two employee houses and two storage garages. Adjacent property includes a separate house. There are tow vacant buildable lots offering expansion opportunism.
Juniper Hill
Juniper Hill Inn has a main inn with 101 guest rooms and suites, plus a standalone cottage. Two adjacent, buildable lots offer the opportunity for additional weekly rentals.
The inn has indoor and outdoor heated pools, two jacuzzis, two fitness facilities, a freestanding multi-purpose building with a guest meeting room, secondary laundry for the hotel, and employee housing. There is extensive stonework and landscaping on the property, including 3.97 acres of land.
The seller
The properties were listed a year ago and went under contract in the fall. The package had other offers, but Giri came in with the strongest, said Daigle.
The seller is the family of Bob Hanson, who “built a four-decade-long career in the hospitality industry in town, eventually owning Juniper Hill, Gorges Grant and the Milestone, which are among the most visible resorts along Route 1,” according to a 2011 article by seacoastonline.com.
Hanson passed away in 2011 and his family continued to operate the hotels through a manager, said Daigle.
The manager’s plans for retirement prompted the family to sell the properties, said Daigle.
The properties are in immaculate condition, he added.
The buyer
“Over the last several years, our focus is very much on boutique hotels in Maine, and these properties fit perfectly into our portfolio with their location, amenities and teams,” said Ryan Amin, a partner with Giri Hotel Management. “We are committed to maintaining the family atmosphere people have come to know and love about Ogunquit, and these properties were perfectly aligned to that goal.”
In a lodging acquisition, Giri prioritize several key factors, including location and demand trends, “but also potential opportunities to create synergies, whether through operational efficiency, shared resources or strategic partnerships,” said Amin.
“We always have an eye out for acquisitions that contribute positively to the local community, as well, fostering economic growth and offering enhanced benefits to guests. We feel that this balanced approach ensures sustainable and holistic approach to hospitality investment.”
There are no explicit plans for upgrades to the properties at the moment.
He added, “we are always evaluating needs at these and other properties to ensure an excellent guest experience.”
Amin said the firm sees plenty of opportunity for expansion of on-property amenities and extension of food and beverage outlets that will serve the local community, not just onsite guests.
Giri now has five properties in Ogunquit. The other three are Anchorage by the Sea, the Meadowmere Resort and Ogunquit Hotel & Suites, as well as the Ogunquit River Inn in the neighboring coastal town of Wells. The vision is to provide access to all amenities, such as pool access, restaurant discounts, bike rentals, fitness club access, across the portfolio, no matter which hotel they’re staying in, Amin said.
“Additionally, by being the largest hotel group in the Ogunquit market, we are excited about identifying ways to give back to the community, including our newly formed Marginal Way Support Package,” he continued. “This package will be available at each one of our hotels come spring.”
Every room booking in the package will result in a 20% of the profits to the Marginal Way Fund, a nonprofit dedicated to keeping up Marginal Way, a 1.25-mile cliff walk in Ogunquit.
Giri Hotels owns 49 hotels in five states. Its Maine hotels span Bethel to York and employ up to several hundred people depending on the season, with many leaders based in Maine.
Additional Maine purchases since late 2021 have included the beachfront Union Bluff Hotel in York, the 450-acre Sebasco Harbor Resort in Phippsburg, the Bethel Inn Resort and the Harraseeket Inn in Freeport. The company sold the Anchor Inn & Cottages in Wells last fall, in a deal also brokered by Roger Daigle and Bridget Conley of Daigle Commercial Group Inc.
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