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Announced

Completed

Certares and HHM Partner completed the acquisition of Sea Crest Beach Hotel.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

Completed

Domestic

hotel

Private

Majority

Hotels and Motels

Private Equity

Single Bidder

Real Estate

Acquisition

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Synopsis

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Certares, a company focuses on direct investments in proprietary transactions, leveraging deep sector experience in the travel and hospitality industries, and HHM Partner, a hotel management and investment company, completed the acquisition of Sea Crest Beach Hotel, a 263-room independent resort. Financial terms were not disclosed. “We are excited to add this irreplaceable, historic asset to our growing portfolio, as well as continuing our investment partnership with HHM. This resort is truly unique in New England due to its proximity to Boston, expansiveness of beachfront real estate, and one-of-a-kind sunset views on the East Coast,” said Nolan Hecht, Senior Managing Director at Certares. “The Sea Crest has an almost 100-year old history as a premier leisure destination and community mainstay within the Boston area, and we look forward to owning an asset with such a strong local and regional presence,” Mike Kusy, Certares Director.

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