N.Y. capital firm buys Bethany Beach hotels for $44M

BETHANY Seaside — A New York-based hospitality investment company has purchased two Bethany Beach accommodations for a blended $44 million, according to Sussex County land information.

EOS Investors LLC, a personal 4-calendar year-aged business founded by Jonathan Wang, acquired both of those Bethany Seashore Ocean Suites and The Vacation Inn Express Bethany Beach, on May possibly 19. The home was sold by Bluewater Development Company, a serious estate advancement agency based in Ocean Town, Md. The sale was facilitated by Savills, a global commercial actual estate advisory that represented EOS Buyers.

“EOS is psyched to welcome two further push-to leisure attributes to its portfolio although growing its footprint in the Delaware beaches,” EOS Controlling Director Tom Burns claimed in a assertion. “These two property continue our strategic strategy of determining exceptional assets in substantial barrier-to-entry markets with eye-catching prolonged-expression need development.”

Bethany Beach front Ocean Suites, a 112-area oceanfront hotel affiliated with the Residence Inn by Marriott, offered for $32 million. It capabilities vacation resort-like suites, a full assistance spa, a cafe, kitchens in each hotel home and 5 meeting rooms. 

The Holiday break Inn Express Bethany Beach front, a 110-home hotel off Jefferson Bridge Highway and two blocks from the beach, sold for $12 million. The hotel, operated by InterContinental Resort Group, has 1,400 sq.-foot versatile convention room and a organization middle.

This marks EOS Investors’ next and third Delaware addition to its portfolio, as the organization acquired the historic Bellmoor Inn and Spa for $17.3 million in March 2020. Right before that, EOS Buyers made a splash when it acquired a 160-acre beachfront vacation resort in Myrtle Seashore for $156 million in 2019 and the 318-room Hamilton Lodge in D.C. for $106.5 million.

EOS Investors also owns boutique hotels in Beverly Hills, Calif. a few resorts in Florida and a chain of 9 qualities in Kennebunkport, Maine.

“We glance forward to building on the longstanding good results, welcoming hospitality and deep ties to the Bethany Beach group that the property has fostered for numerous decades,” EOS Main Functioning Officer Simon Mais stated in a ready assertion.

Bluewater Development Corp. created the Bethany Seaside Ocean Suites in 2015. In 2018, the developer purchased the Getaway Inn Specific Bethany Seaside from Atlantic Administration.

“Bethany Beach front is a excellent resort town in Delaware. I relished operating with the EOS crew on the sale of these two inns, and I search forward to observing them continue the near connection with the Bethany Seaside neighborhood that we have developed more than a lot of many years,” Bluewater Enhancement Corp. owner Jack Burbage reported.