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Hotel Group Adds to Portfolio With Nantasket Beach Acquisition

By Steve Adams | Banker & Tradesman Staff | Jan 29, 2019 | Reprints | Unlock Link

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The 107-room Nantasket Beach Resort in Hull has been sold to Newport Hotel Group for $14.8 million.

The seller, Nantasket Resort Inc., paid just under $12 million for the property in 2010.

Located at 45 Hull Shore Drive, the property was renovated in 2016. Amenities include private balconies with ocean views, whirlpool baths, two restaurants – the Paragon Grill and Surf Lounge, an indoor heated pool, Jacuzzi, fitness center, business center, the Beach Shack, an arcade and 10,000 square feet of meeting space.

HFF’s Denny Meikleham, Alan Suzuki and Matthew Enright represented the seller and procured the buyer.

Middletown, Rhode Island-based Newport Hotel Group owns a group of boutique hotels in New England, mostly in coastal locations, and one in Jackson Hole, Wyoming.

B&T Daily