Certares and HHM Partner to Acquire Irreplaceable Beachfront Cape Cod Resort
Certares Management LLC (together with its affiliates, “Certares”), a leading investment specialist dedicated to the travel, tourism, and hospitality sectors, has acquired the Sea Crest Beach Hotel. The 263-room independent resort is recently renovated and sits on a 700+ foot private stretch of beach along Buzzards Bay in Falmouth. As Upper Cape Cod’s only beachfront hotel, the 20-acre resort boasts breathtaking views, freshly modernized guest rooms and suites, a charming 3-bedroom cottage, premier onsite dining and bars, year-round activities, and spacious event space for meetings and events.
“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,” added Mike Kusy, Director at Certares.
The resort falls within the Independent Collection, HHM’s portfolio of twenty-seven unique hotels and resorts. The hotel attracts a wide array of travelers to Cape Cod serving as a destination for romantic getaways, family vacations, special events, and personal retreats.
HHM will continue to operate the resort. “We are delighted to invest alongside Certares and to continue our focus on adding guest experiences, new amenities, and even capital improvements to an already great beach hotel,” said HHM President & CEO Naveen Kakarla. “This transaction follows our recent transaction with Certares to jointly purchase the Courtyard San Diego Downtown, and is a testament to the strong and growing relationship among our teams.”
Leader Bank, a Massachusetts-based financial institution with $3.9 billion in assets, provided financing for the transaction. “We are excited to support Certares and HHM by financing this valuable community resort, and look forward to its continued success under their stewardship,” said Matthew Pierce, Chief Lending Officer at Leader Bank.