The 107-room hotel is located five miles from Findley Lake in southwest New York and encompasses nearly 1,100 acres of land with 27 ski runs, two golf courses, several on-site restaurants and a spa.
“Per court mandate, the property will be marketed in an accelerated timeframe, with a call for offers date of August 5, 2011,” said Mark von Dwingelo, Senior Vice President of Jones Lang LaSalle Hotels. “Offered at a discount to replacement cost, this acquisition offers investors the rare opportunity to acquire nearly 1,100 acres of highly-desirable land and benefit from numerous value enhancement opportunities and upside potential.”
“In addition to its many in-place revenue-generating components, there is an opportunity to sell timeshare units and develop land that is slated for future condo, timeshare and residential uses,” said von Dwingelo. “The resort has generated more than $15 million in revenue over the last several years and there is ample opportunity for growth with further development of the property.”
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