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12 Premium New England hotels added to portfolio

NEW ENGLAND - Sep 10, 2014

FCA Group (now incorporated in Elandis), the North and Central American real estate investment and property management arm of the Libra Group, has announced the acquisition of all of its parent company’s North American hotels for its portfolio of hotel and hospitality assets.

In addition to its current assets, FCA will now own 12 premium hotels in Connecticut, New Hampshire, Rhode Island, Massachusetts, Vermont and Maine. The properties include the iconic White Barn Inn in Kennebunk, Maine; The Vanderbilt Grace in Newport, Rhode Island, and The Mayflower Grace in Washington, Connecticut. The hotels are managed by New England specialist management company Hay Creek Hotels, and FCA’s sister company, the international luxury boutique hotel group, Grace Hotels. Three of the properties are part of the exclusive Relais & Châteaux collection of the finest hotels and gourmet restaurants in the world.

FCA’s approach to the hospitality sector involves identifying and acquiring premium properties, supporting the development process as necessary and working with the most appropriate hotel management company for each property. FCA is also able to provide advisory services for hotel developments and recently supported Grace Hotels in the creation of the newly-built Grace Panama in the heart of Panama City.

Commenting on the acquisitions FCA’s CEO, Frank Espinosa, stated: “This move is designed to consolidate real estate ownership in the hands of our expert team that can provide investment management, property management and where necessary, co-ordination of the hotel development process. We continue to look for complementary hospitality acquisition opportunities throughout the USA and Central America.”

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