US: Savills has represented Bethany Boardwalk Group and Bethany Beach Ocean Inn, in the sale of the 112-room Bethany Beach Ocean Suites Residence Inn.
The 100-room Holiday Inn Express in Bethany Beach was also sold as part of the transaction. The properties were acquired by EOS Acquisitions, LLC.
The Savills team was led by Marc Magazine, executive managing director; and Tom Baker, corporate managing director; who are based in the firm’s suburban Washington, DC office in Tysons.
“The successful sale of these two irreplaceable assets is evidence of the extremely high barriers to entry that exist in Bethany Beach, particularly on the oceanfront,” said Magazine. “The buyer has secured control of the only hotel properties in town.”
