OCEAN CITY, Md., June 16, 2021 /PRNewswire-PRWeb/ -- Blue
Water Development, a premier real estate investment and outdoor
hospitality management company, recently announced the sale of the
only two hotels in the popular East Coast beach community of
Bethany Beach, Del. The 112-room
Bethany Beach Ocean Suites, Residence Inn by Marriott, and the
100-room Holiday Inn Express Bethany Beach were purchased by a
privately-held real estate investment firm.
Blue Water built the Bethany Beach Ocean Suites in 2015 as the
first, and only, hotel on the resort's boardwalk, and the
oceanfront luxury hotel has been the upscale lodging of choice in
Delaware's Quiet Resorts ever
since.
"Our focus is creating standout accommodations for our guests,
and we believed that navigating the complex process of a boardwalk
build in one of the most desirable East Coast beach destinations
would be well worth the effort – and we were right," said Blue
Water CEO Todd Burbage. "At Blue
Water, we don't shy away from complicated projects. The stellar
performance of the Ocean Suites is just one example of our ongoing
persistence and determination to create unique, high-end
family-friendly assets in markets with high barriers to entry. We
look forward to pursuing similar opportunities and know that we're
leaving this special project in good hands."
To further serve families and business travelers visiting
Bethany Beach and the surrounding
Coastal Delaware communities, Blue Water acquired the Holiday Inn
Express in 2018. Offering an outdoor pool, fitness center, and
ample meeting space, this is the only other hotel in the immediate
area and is just two blocks from the beach.
"Building, owning and operating these hotels – along with our
numerous water-adjacent properties - has provided us with unique
insights on what family beachgoers are looking for in both a
destination and an experience," Burbage added. "We're excited to
apply these insights to new regions throughout the country and work
to provide the ultimate vacation experience for all of our camping,
glamping and hoteling families."
In addition to its existing portfolio of nearly two dozen
waterfront or water-adjacent properties, Blue Water is currently
developing seven RV resorts and four hotels. The firm specializes
in transforming properties to upscale, luxury assets by focusing
its portfolio on already-developed properties, with growth
potential, in desirable locations near a body of water and/or
public park lands. Blue Water also has extensive experience in the
entitlement and ground-up construction of resort hotels and RV
resorts. Learn more about the Blue Water portfolio of hotels, RV
resorts, and attractions at https://bwdc.com/portfolio/.
To discuss acquisition or investment opportunities, please
contact Carl Kruelle, Chief
Investment Officer, at ckruelle@bwdc.com.
About Blue Water Development
Founded by Jack and Todd Burbage in
2002, Blue Water specializes in investing, developing, and managing
RV resorts, campgrounds, hotels, and attractions. Blue Water's
integrated approach to marketing, revenue management, and
operations has quickly established itself as a hospitality industry
leader. With two dozen resort-area properties in East Coast states
from Maine to Florida, the Blue Water family is committed to
creating elite assets, delivering exceptional guest experiences,
and enhancing the communities we serve. To learn more, visit
BWDC.com.
Media Contact
Tim Fisher, Blue Water
Development, 4102131900, tfisher@bwdc.com
Steve Adams, The Cyphers Agency,
410.280.5451, steve@thecyphersagency.com
SOURCE Blue Water Development