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New Hampshire developer buys majority stake in 2 Portland hotels
XSS Hotels acquired a controlling interest in the Portland Harbor Hotel and The Inn at Diamond Cove.
A New Hampshire hotel developer has bought a majority stake in two high-end Portland hotels.
XSS Hotels, based in Hooksett, said Wednesday that it acquired a controlling interest in the Portland Harbor Hotel, on Fore Street in the Old Port, and The Inn at Diamond Cove, on Great Diamond Island in Casco Bay.
The deal also includes restaurants at both hotels and a marina on the island. Bateman Partners, the hotels’ original Portland developer, will keep a minority stake in the properties.
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Shown at the May 7 groundbreaking for the Sig Sauer Experience Center in Epping are, from left: Duene Cowan, architect, Cowan Goudreau Architects; Amanda Savage, business development manager and Dylan Register, project superintendent, both of North Branch Construction; Gov. Chris Sununu; Ron Cohen, president and CEO, Sig Sauer Inc.; Dylan Cruess, chief operating officer, TFMoran Inc.; and Joseph Campbell, president and principal, and Bruce Blazon, project manager and principal, North Branch Construction. The two-story, 40,500-square-foot facility will feature a 6,000-square-foot Sig Sauer flagship retail showroom, indoor shooting ranges and an interactive Sig Sauer Museum.
A New Hampshire-based developer on Tuesday announced it has purchased two Portland hotels for an undisclosed price.
XSS Hotels acquired a controlling interest in the Portland Harbor Hotel and the Inn at Diamond Cove, according to a news release. Bateman Partners, the original developer of both properties, retains a minority ownership in them, the release said.
The management affiliate of XSS Hotels, Colwen Hotels, will operate both the 101-room Portland Harbor Hotel, in the city’s Old Port district, and the Inn at Diamond Cove, a 44-room resort on Diamond Island that was recently restored from use as a military barracks.