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.”
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