SOUTH YARMOUTH — The Davenport Firms of South Yarmouth announced the sale of its Red Jacket Resorts, with five properties on Cape Cod and one in New Hampshire, to affiliates of EOS Investors LLC.
The sale value was not disclosed in a release from Davenport on Tuesday.
Bought on the Cape have been the 44-place Blue Rock Golf Vacation resort, 160-room Purple Jacket Seashore Resort, 112-place Blue Drinking water Vacation resort and 125-place Riviera Seaside Resort, all in South Yarmouth, and 50-place Eco-friendly Harbor Resort in West Yarmouth, according to the launch.
The Davenport family members acquired the former Birchmont Inn in North Conway, New Hampshire, and commenced building of the Crimson Jacket Mountain View Motor Inn in October 1970, the launch claimed. The 40,000-sq.-foot Kahuna Laguna Waterpark was added in 2008 to what is now identified as the 161-room Purple Jacket Mountain See Resort.
“Our staff customers who make up our relatives at Crimson Jacket Resorts have often been the essential to our results, and we thank them wholeheartedly for the decades of support that produced us who we are,” reported DeWitt Davenport, CEO of The Davenport Corporations, which has owned Red Jacket Resorts due to the fact its creation.
The final decision to sell its Pink Jacket Resorts portfolio “was built soon after a very carefully believed-out system that guarantees the continued success of the popular Red Jacket model,” Davenport stated in the statement. “EOS Hospitality has revealed a determination to delivering the exact high-good quality resort encounter Crimson Jacket Vacation resort guests have come to be expecting for decades.”
On its internet site, EOS Investors, established in 2017 by Jonathan Wang and primarily based in New York Town, describes by itself as “a completely integrated financial investment agency committed to pinpointing and generating benefit in just the hospitality sector.” The company seems to be “for investment chances throughout the United States, mostly focusing on city marketplaces and pick resort places.”
The 1st home built by the Davenport family was the Blue Rock Motor Inn in 1963, now known as Blue Rock Golfing Resort, subsequent to Blue Rock Golfing Class, the release mentioned. The par-3 golf course is not section of the sale.
Progress of Red Jacket Beach Vacation resort on South Shore Generate began in 1968, adopted by Davenport acquisitions of Blue H2o Vacation resort, Riviera Beach Resort and Eco-friendly Harbor Vacation resort, the launch explained.
The sale does not involve any other corporations owned and operated by The Davenport Companies, the release reported. The firm owns Thirwood Position senior residing in South Yarmouth, Cape Cod Fence Co. on Cape Cod and in Connecticut, All-Cape Self-Storage, Davenport Realty, Davenport Setting up Company, Davenport Professional Realty, Davenport Annually Rentals, Kingsbury Aviation and Jupiter Apartment Finders, amongst some others, the launch mentioned.
Speak to Gregory Bryant at gbry[email protected]. Adhere to him on Twitter: @GregBryantCCT.