Once-seasonal hotels are renovating to attract year-round rentals. Sellers are staying in the market to buy other properties. Lodgings are generally selling close to list price.
Revenue at Maine's hotels, motels, restaurants and bars has plummeted during the pandemic. In the midcoast and Downeast parts of the state, businesses are coping, sometimes more successfully than they anticipated, in a season unlike any other.
If approved, the deal would create an organization with over $725 million in assets and 46,000 members in central and midcoast Maine, and ranking by far as the state's largest credit union.
The food and beverage businesses, from Saco to Skowhegan, will each receive over $25,000 in consulting help and other assistance, through an initiative of CEI and FocusMaine.
The Scarborough-based maker of lab instruments has signed an exclusive licensing agreement with the University of Colorado to commercialize artificial intelligence software that could speed the detection of dangerous bacteria.
The Boothbay Harbor Region Chamber of Commerce plans to open a visitor information center on one of the most heavily traveled stretches of U.S. Route 1, in Edgecomb, across the Sheepscot River from Wiscasset and Red's Eats.
The new owners of Cedar Crest Inn in Camden say its three acres, along with four acres on an adjoining property, provide plenty of opportunity for expansion if they decide that's what they want to do at a later date.
Glidden Point Oyster Farm plans to buy a second farm for its oysters, as the fishery is attracting new entrants, particularly commercial fisherman wanting supplemental income.
The Wiscasset Water District received funding from the USDA Rural Development office totaling $4.3 million for infrastructure upgrades on nearly 13,000 feet of century-old water lines.