Once-seasonal hotels are renovating to attract year-round rentals. Sellers are staying in the market to buy other properties. Lodgings are generally selling close to list price.
MIDCOAST A total of 96 businesses in Lincoln County received aid money from the Maine Tourism, Hospitality & Retail Recovery Grant program.
Funding for the program originated from the federal Coronavirus Relief Fund with funding being provided to the first 2,500 approved applications from eligible tourism, hospitality and retail businesses in the industries of accommodation and food services; breweries; wineries; distilleries; retail trade; arts; entertainment; and recreation.
Applicants must have gross sales between $24,000 and $12 million annually and suffered a 20% or greater loss in gross sales as reported to the Maine Revenue Services on sales tax returns comparing either March 2019 through September 2019 to March 2020 through September 2020, for monthly filers, or April 2019 through September 2019 to April 2020 through September 2020, for quarterly filers.