Ocean Suites, Vacation Inn Convey lodges offered to new owner | Small business

The sale of two Bethany Seashore-spot hotels has been declared by the hotels’ new proprietor.

Bethany Beach Ocean Suites, the boardwalk-fronting resort concluded in 2015 in downtown Bethany, and the Holiday break Inn Express hotel on Jefferson Bridge Street, just exterior town limitations, have been bought to for a total of $44 million.

The sale finishes months of speculation above the possession of the Ocean Suites resort, crafted by developer Jack Burbage on the web site of the former Bethany Arms motel. The two accommodations were being bought by a New York-dependent hospitality expense business, EOS Investors LLC, on May perhaps 19.

EOS Buyers is a four-year-previous private agency the seller was Bluewater Enhancement Corporation, an Ocean Town, Md., organization led by Burbage and his son, Todd Burbage.

“EOS is thrilled to welcome two further travel-to leisure properties to its portfolio when growing its footprint in the Delaware beaches,” EOS Handling Director Tom Burns claimed. “These two belongings proceed our strategic method of pinpointing special assets in substantial barrier-to-entry marketplaces with appealing prolonged-phrase demand expansion.”

EOS was represented in the sale by Savills, a worldwide commercial actual estate advisory corporation.






Christmas garland at Bethany Beach Ocean Suites (copy)

Bethany Beach Ocean Suites is embellished for the 2020 holiday getaway season. The resort has now been marketed to a new proprietor, along with the close by Vacation Inn Convey.



The Bethany Seaside Ocean Suites sold for $32 million. The 112-room hotel is part of the Home Inns by Marriott team and characteristics a cafe, 99 Sea Level, as perfectly as a full-support spa and five assembly rooms.

The 110-space Vacation Inn Express, two blocks from the beach, west of the Sea Colony community’s superior-rises, bought for $12 million. The Holiday getaway Inn Categorical has 110 rooms, as well as a flexible meeting space and small business center. It is operated by the InterContinental Resort Group.

The recent sales are the second and third Delaware properties acquired by EOS Investors, joining the Bellmoor Inn & Spa in Rehoboth Seashore, which was bought in 2020 for $17.3 million.