Investment firm buys The Cliff House resort
An Ohio-based hotel investment firm has acquired The Cliff House Resort & Spa in Cape Neddick for an undisclosed price.
Rockbridge, a private equity firm based in Columbus, Ohio, announced its purchase of the historic 166-room resort atop Bald Head Cliff in a press release on Monday. The purchase is a joint venture with Maine-based hoteliers Marc Dugas and Peter Anastos, according to the release.
The resort will get a comprehensive renovation after the 2015 season, according to the release from Rockbridge, whose investment portfolio includes more than 325 hotels in 45 states in transactions worth more than $5 billion.
Dugas, who owns Portland-based Dugas Development, said the joint venture is honored to be “taking over the reins” of the resort from its former owner, Kathryn Weare, a longtime friend. “We’re looking forward to working with Rockbridge and bringing this historic oceanfront resort to the next level,” he said.
The hotel will open for the season in April, and Portland-based New Castle Hotels will manage the resort for Rockbridge, according to the release.
New Castle and Rockbridge also partnered on the recent revitalization and rebranding of The Westin Portland Harborview, formerly the Eastland Park Hotel.
The Cliff House has 13,000 square feet of meeting space with a 150-seat amphitheater, a 2,500-square-foot fitness center, a 75-foot indoor lap pool, whirlpool, steam room and sauna.
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