OGUNQUIT, Maine, April 25, 2023 - Giri Hotels has recently announced their acquisition of Anchorage by the Sea, a waterfront hotel located in Ogunquit, Maine. The transaction was negotiated by Wason Associates Hospitality Real Estate on behalf of the Seller: AMIO, LLC and Anchorage Motor Inn Ogunquit Inc. This acquisition represents the blending of long-time, trusted Maine businesses that care greatly about guest experience and the local community. Anchorage by the Sea is the 47th hotel in Giri's portfolio and 24th property in Maine.
Situated on the ocean and the famed Marginal Way, Anchorage by the Sea has 249 rooms and offers an array of modern amenities, including ocean access, heated indoor and outdoor pools, onsite restaurant and bar, hot tub, and more. Nestled right in the heart of downtown, guests can enjoy a variety of activities right from the property, such as shopping, dining, and exploring local attractions like Perkins Cove or Ogunquit Playhouse. It is the perfect location for coastal Maine weddings, corporate events, and bus tours.
Wason Associates has extensive experience working with large-scale hotel companies looking to expand, and the recent sale of Anchorage by the Sea is the latest in their large portfolio of transactions successfully facilitated.
Earle Wason of Wason Associates Hospitality Brokerage Group negotiated the transaction, saying, "The Giri team is very professional in their approach. They followed through in a timely manner and have an experienced and knowledgeable team to handle their due diligence and transfer of operations." When asked his thoughts on the sale of Anchorage by the Sea, he continued, "this is likely the highest sale price of a hotel ever in the State of Maine, and it was a great privilege to have facilitated such a transaction."
Michael Scavotto, Giri Hotels Director of Operations, said "Anchorage by the Sea is a classic New England hotel that exemplifies what we love about Ogunquit. Waterfront access to Maine's unique coast, onsite restaurant and bar, and great amenities make it the perfect place to stay. This hotel has been a family-run property since 1978, and now it is coming to the Giri family."
About Wason Associates
Wason Associates Hospitality Real Estate Brokerage Group is a highly respected New England-based brokerage firm comprised of professionals who bring a unique combination of financial, banking, and real estate expertise to each transaction. President Earle Wason, CCIM has over 40 years of experience in the hospitality real estate market. Offering advisory services to both buyers and sellers, Wason Associates provides a strategic, client-centric approach to problem-solving, financial advising, and transaction execution. For more information on Wason Associates, visit hospitalityrealestate.com.
About Giri Hotels
Giri Hotels owns and operates 47 properties in New England; in Maine, Massachusetts, New Hampshire, and Vermont. The company's tenets are offering top-notch customer service, unparalleled guest satisfaction and, most importantly, team-member development, which the founders firmly believe is the key to any business' success. For more information about Giri Hotels, visit the website: girihotels.com. View their entire hotel portfolio here.
SOURCE Wason Associates
