Gurney’s Newport sold to Maryland company for $174M
NEWPORT, R.I. (WLNE) — A Maryland based company has purchased Gurney’s Newport Resort and Marina for a high price tag.
Pebblebrook Hotel Trust purchased the hotel for $174 million Thursday.
“We are very excited to acquire this extremely unique premier resort within the vibrant, high barrier to entry Newport market,” said Jon Bortz, the chairman, president, and CEO of Pebblebrook Hotel Trust. “Gurney’s Newport is the only resort-style property in Newport, and it is one of the very few true waterside resorts on the Northeastern Seaboard, drawing strong demand from New York, Boston and Providence.”
Gurney’s Newport sits on 10 acres of waterside space that provides views of the Narragansett Bay and Newport Harbor.
The hotel features more than 250 rooms and 18 luxury suites and on-site dining and a marina.