Mayflower Inn & Spa in CT Gets New Ownership
Thursday August 8th, 2013 - 11:34AM HS
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WASHINGTON, CT—CBRE Hotels announced the recapitalization of the Mayflower Inn & Spa here.
The company represented an affiliate of Three Wall Capital LLC and the U.S.-based arm of international luxury boutique hotel group, Grace Hotels, to recapitalize the property.
Bradley Burwell, VP, CBRE, represented Three Wall Capital, the existing owner, while Mark Fisher, SVP, and associate Elizabeth Fritz of CBRE's Debt & Equity Finance team, represented Grace Hotels.
Burwell noted in a statement, "Three Wall has been an amazing custodian for the asset, successfully transitioning and improving its operations over the last two years; we were happy to assist them with completing their business plan and pass it on to the next owner. Grace Hotels is the perfect home for The Mayflower."
Tags: • Hospitality • Ownership • Sources of Funding •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.