ARLINGTON, Virginia—Badlands Hotel Capital announced that it has been appointed by Blue Water Development to provide asset management for nine hotels and outdoor hospitality properties across six East Coast drive-to resort markets, operated by three management companies.
“We are excited to have Badlands Hotel Capital overseeing our owned assets and helping us and our operating partners drive performance and value for these properties,” said Todd Burbage, chief executive officer of Blue Water Development. Todd further commented, “I have known the Badlands team for several years and have been impressed by their knowledge of the hospitality business and their deep ownership and operational experience.”
“We are thrilled to partner with Blue Water Development and look forward to bringing our ownership and asset management expertise to their unique portfolio of drive-to resorts,” said Al Young, principal at Badlands Hotel Capital. “We believe our immersive, ownership-minded approach to asset management will enable us to help Blue Water improve the operations and grow the value of their hospitality assets.”
The properties are:
In Ocean City:
- The 145-room Commander Hotel & Suites
- The 60-room Sealoft Oceanfront Hotel
- The 120-room Aloft Ocean City
- The 52-unit Shore Point Cottages
Others:
- The 67-room Bay Resort Waterfront Hotel in Dewey Beach, Delaware.
- BlueFin Bungalows and Marina in the heart of Chincoteague Island, Virginia
- The 100-room Drifting Sands Oceanfront Hotel in Ship Bottom, New Jersey
- The 85-room Crystal Coast Oceanfront Hotel in Atlantic Beach, North Carolina.
- The 112-room Comfort Inn & Suites in Daytona Beach, Florida.
With the addition of the Blue Water Development portfolio, Badlands Hotel Capital now provides asset management services for a total of 25 hotel and RV campground properties across North America.
Source: lodgingmagazine.com
