Business & Finance

HREC Arranges Sale of Chateau Resort & Conference Center Tannersville, Pennsylvania

DENVER, CO./ WASHINGTON, D.C./ BETHEL, CT. July 20, 2017 – HREC Investment Advisors is pleased to announce it arranged the sale of the 152-guestroom Chateau Resort & Conference Center located in Tannersville, Pennsylvania.

Ketan Patel and Mark von Dwingelo, both Senior Vice Presidents with HREC Investment Advisors’, exclusively represented the seller.

The Resort is situated in the Poconos Mountains, an ideal family vacation area in the northeastern U.S. offering endless recreational activities through all seasons. Many major metropolitan areas are located within an easy drive of the Resort including: Scranton and Allentown, PA, New York City and Philadelphia. In addition to the Resort’s facilities, the Chateau’s location offers a large number of activities for guests to participate in just steps from the Property. Camelback Mountain Resort, one of the top ski resorts in the state, is within walking distance of the Resort. This year-round destination offers incredible skiing, snow tubing, a mountain coaster, zip line, hiking and outdoor sports. The largest outdoor waterpark in the Poconos is also located at the base of Camelback Mountain. Camelbeach boasts over 37 water rides and attractions on 15-acres just steps from the Chateau Resort and Conference Center.

About HREC®: HREC® is the nation’s leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting (market studies and appraisals), and litigation support. With offices throughout North America, HREC® is distinguished by unwavering commitment to client service and success through its team approach, intellectual capital and hotel/casino specialization.

For addition information on the property, please contact:
Ketan Patel
Senior Vice President

Mark von Dwingelo
Senior Vice President

Ashley Hunt
Director of Marketing

Coming Up In The September Online Hotel Business Review

Feature Focus
Hotel Group Meetings: Blue Skies Ahead
After a decade of sacrifice and struggle, it seems that hotels and meeting planners have every reason to be optimistic about the group meeting business going forward. By every industry benchmark and measure, 2017 is shaping up to be a record year, which means more meetings in more locations for more attendees. And though no one in the industry is complaining about this rosy outlook, the strong demand is increasing competition among meeting planners across the board – for the most desirable locations, for the best hotels, for the most creative experiences, for the most talented chefs, and for the best technology available. Because of this robust demand, hotels are in the driver’s seat and they are flexing their collective muscles. Even though over 100,000 new rooms were added last year, hotel rates are expected to rise by a minimum of 4.0%, and they are also charging fees on amenities that were often gratis in the past. In addition, hotels are offering shorter lead times on booking commitments, forcing planners to sign contracts earlier than in past years. Planners are having to work more quickly and to commit farther in advance to secure key properties. Planners are also having to meet increased attendee expectations. They no longer are content with a trade show and a few dinners; they want an experience. Planners need to find ways to create a meaningful experience to ensure that attendees walk away with an impactful memory. This kind of experiential learning can generate a deeper emotional connection, which can ultimately result in increased brand recognition, client retention, and incremental sales. The September Hotel Business Review will examine issues relevant to group business and will report on what some hotels are doing to promote this sector of their operations.