Well-known investor buys Boothbay Harbor inn
The Rocktide Inn & Restaurant in Boothbay Harbor sold for $3.75 million to an investor who has put significant capital into area properties in recent years.
The buyer was Paul Coulombe, former CEO of the former White Rock Distilleries in Lewiston, the Boothbay Register reported. He has bought various properties in the Boothbay region over the past few years.
Plans include a name change to The Rocktide Oceanside Golf Resort plus extensive interior and exterior renovation, Coulombe representative Michelle Amero told the Register.
Coulombe sold White Rock Distilleries in 2012. Soon after, he acquired the Boothbay Harbor Country Club for $1.4 million and invested $50 million on improvements, the paper reported. He also owns an estate on Pratt’s Island off Southport Island.
“While boat building and fishing remain active industries, tourism has the greatest potential to have the most positive impact on the local economy,” Coulombe told the Register via email. “We can attract more tourists to the area which will benefit all of us. I have purchased the Rocktide to provide four-star facilities and a world-class marina.”
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