US Hotels Group Acquires The Wolfeboro Inn in New Hampshire

From The Carlyle Group

• 
  SAVE
• 
  SHARE
• 
  TEXT SIZE
• 
  PRINT
• 
  COMMENT
• 
  PDF

. July 03, 2013

KENNEBUNKPORT, Maine - July 3, 2013 - Maine-based US Hotels (www.ushotelsgroup.com) has today announced the acquisition from the Carlyle Group of an additional boutique hotel to add to its portfolio of luxury hotels, restaurants and spas across the Northeast of the United States. The new property is The Wolfeboro Inn in Wolfeboro, New Hampshire. The hotel joins US Hotels' existing portfolio of owned and managed properties in New England, which include the celebrated White Barn Inn and Spa in Kennebunk, Maine. New Hampshire-based Hay Creek Hotels will continue to manage the property, with George Soderberg remaining as hotel General Manager and all management personnel remaining in place. In addition, Hay Creek Hotels will retain a 10% equity interest in the hotel following the acquisition.

US Hotels is a privately-owned group of hotels and restaurants designed to address a range of market niches—from family-orientated beachfront inns to luxurious hotels and spas that have qualified for membership of the world-renowned Relais & Chateaux collection. The company is also the owner of the Vanderbilt Grace in Newport, Rhode Island, which is managed by US Hotels' sister company, Grace Hotels.

The new hotel enjoys an excellent local reputation and is highly complementary to US Hotels' existing portfolio. Rich in history and tradition the Wolfeboro Inn has been welcoming guests for well over a century. The 44 room lake front resort offers guests the ideal combination of rustic charm married with modern amenities. The Inn is also home to the legendary Wolfe's Tavern dating back to 1812. The Tavern offers diners traditional New England cuisine with a contemporary American flair and over 100 varieties of beer available. The hotel is also a perfect setting for weddings and special events with its 6 unique venues on site, and a commanding presence right on Lake Winnipesaukee.

Paul Hanley, CEO of the Group, sees the acquisition as part of the company's overall strategy to grow and expand not only in New England but throughout North America. Hanley stated: "We are thrilled to be adding this distinctive property to our portfolio. As a New England-based hospitality company we know and understand the market and see these acquisitions as a natural fit. We are the largest independent owner and operator of luxury inns in New England and shall continue to develop US Hotels through both acquisition and management contracts across the United States."

"We are pleased to once again partner with US Hotels Group and are proud to retain the management of this great property that we have been operating for several years," stated Norman MacLeod, Founder and CEO of Hay Creek Hotels. "We look forward to a successful partnership with US Hotels Group, one that continues to maximize the synergies of our two companies and provides more opportunities to work together moving forward."

About US Hotels

US Hotels (www.ushotelsgroup.com) is a family-owned hospitality company which, following the agreement with Carlyle, now comprises over 20 New England hotels, restaurants and spas, including the renowned White Barn Inn and Spa in Kennebunk, Maine.

US Hotels' properties represent the best in class among a number of service categories from luxury hotels and spas to family lodgings and inns. They range from world class accommodation, cuisine and service offering a sophisticated guest experience, to spirited, fun and refined hotels. Ultimately, the experience is unforgettable. US Hotels is also the owner of the Vanderbilt Grace in Newport, RI, which is managed by its sister company, the international luxury boutique hotels group, Grace Hotels (www.gracehotels.com). US Hotels is a member of the Libra Group (www.libra.com). Privately owned by the Logothetis family, Libra has hospitality interests in Europe, Asia, Africa and the Americas.