Local hotels sold to Massachusetts-based company
BAR HARBOR Three name-brand hotels have been sold to a hotel management company with an expanding portfolio in New England.
Witham Family Hotels sold two of its Bar Harbor hotels – the Quality Inn and Best Western – and its Ramada in Ellsworth to Giri Properties last month, said CEO David Witham.
“The hospitality industry is starting to rebound after COVID,” he said. “It’s an opportunistic time to both buy and sell.”
These three properties are what the industry calls “flag” hotels, complete with the recognizable brand name and a certain way to run things. Giri appears to specialize in such hotels, owning Holiday Inns, Hampton Inns, other Best Westerns, Comfort Inns, Howard Johnsons and other hotels spanning four states in the region.