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Elandis announces sale of The Beach House Inn in Kennebunkport, Maine

MIAMI - 11 July 2018

MIAMI, 11 July 2018 –Elandis, an international hospitality and real estate ownership, development and property management subsidiary of the Libra Group, announced today that it has sold The Beach House Inn located on the Maine coast. The new owner is Lafayette Hotels, a family owned and operated group of Maine and New Hampshire hotels.

Located directly on the beach, the Victorian hotel was built in 1891 and is one of the oldest oceanfront inns in Maine. This 34-room property offers exceptional views across the Kennebunk Beach and remains open from April through December.

Elandis has an extensive and varied portfolio of hotels in the northeastern United States, Latin America and Europe. New England is home to eight hotels, including two in the Kennebunk area. Elandis works closely with international and local hospitality management companies to operate its assets, including Hay Creek Hotels and Grace Hotels, a boutique hotel management company owned by the Libra Group.

“As always, we continue to review the strategic alternatives of the assets in our portfolio. This deal, as well as the recent sale of the Yachtsman Lodge & Marina Hotel, enables us to re-deploy capital into other core ventures of Elandis.” said Luis Pulido, Chief Financial Officer of Elandis.

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