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Monday, October 29, 2007

Westport Inn Sold for $13.1 Million

The Westport Inn, Westport’s largest hotel and a fixture on Post Road East for decades, has been sold to a New York owner and developer for $13.1 million, according to a filing in the Town Clerk’s Office.WestportNow.com Image
The new owners of the Westport Inn will undertake extensive renovations of the 115-room facility, according to a broker involved in the sale. (CLICK TO ENLARGE) File photo

The 115-room facility at 1595 Post Road East occupies more than three acres and features an indoor pool, fitness facility, meeting space, and restaurant and lounge. It was bought by Ranger Properties LLC.

“The new owner plans to extensively renovate and reposition the inn, so the Westport Inn will be taken to an even higher level of accommodations and service,” said Joe McCann, president of Philadelphia-based Optimum Hotel Brokerage, the firm which represented the seller in the transaction.

McCann, a former Westport resident, added, “With Westport’s high land costs and prohibitive zoning restrictions, the hotel is situated at the epicenter of one of the highest barriers-to-entry markets in the country.”

The property last changed hands in 1998 for $8.2 million.

Part of the building dates to 1900, according to town records, while most was built in 1960 when it was known as the Westport New Englander Motor Hotel. At the time, it featured 76 rooms and suites.

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Posted 10/29/07 at 09:18 PM  Permalink



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