April 29, 2019
Procaccianti Companies Acquires Hampshire Hospitality Holdings LLC, Assumes Operations of Mill Falls Resort on Lake Winnipesaukee in Meredith, NH
Monday April 29, 2019 (Providence, RI) – Procaccianti Companies today announced that it has acquired Hampshire Hospitality Holdings LLC, the operators of Mill Falls at the Lake Resort since 1985. Mill Falls at the Lake is a collection of waterfront hospitality assets totaling 171 rooms along the shores of Lake Winnipesaukee in Meredith, NH.
“Mill Falls at the Lake is a remarkable destination our family has admired and visited for decades” states James Procaccianti, President and Chief Executive Officer of Procaccianti Companies. “Opportunities to operate heirloom-quality, historic properties like Mill Falls are extremely rare and we feel privileged to be the new custodians of the tremendous legacies the company has established within the community.”
One of New England’s premier 4-season resorts, Mill Falls is nestled along the shores of Lake Winnipesaukee at the base of the White Mountains in the heart of Meredith, NH. In 2018, it was named one of North America’s top ten lakeside towns by USA Today. Featuring four separate hotel buildings, five restaurants, the Cascade Spa, an 11-tenant retail complex known as the Marketplace, and a Lake Activity Center, the Resort is located in one of New England’s most popular drive-to destinations. The Resort is easily accessed from Boston via a scenic two-hour drive and is just over an hour from New Hampshire’s primary airport.
“I’ve been vacationing at the lake my entire life and I’ve been fortunate to have owned a home and be part of this special community for the past 20 years,” states Greg Vickowski, Chief Financial Officer and 30+ year member of Procaccianti Companies’ executive team. “Our firm’s award-winning management company is planning to invest in the hotels to improve the quality of the guest experience, build upon the wonderful service standards established by the previous operators and continue to help position Meredith as a top business and leisure destination. Additionally, we’d like to thank Paul Falvey and the team at Bank of New Hampshire who provided financing for the acquisition of Hampshire Hospitality Holdings.”
Mill Falls at the Lake continues a recent trend of transaction activity by Procaccianti Companies. In March of this year the firm announced the acquisition of two 17th century inns on Nantucket Island, The Veranda House and the Chapman house. The company owns and operates about a dozen boutique, independent and/or historic resorts and hotels throughout the United States
About Procaccianti Companies
Procaccianti Companies is one of the largest and most respected privately-held real estate investment and services firms in the United States. Founded in 1958, our successful track record spans over six decades and our experience includes thousands of transactions representing more than $10 billion of diversified real estate investments. We are a vertically integrated alternative asset manager with a broad national platform having owned, developed, managed or financed investment real estate in more than 160 cities across 31 states coast to coast.
About TPG Hotels & Resorts
TPG Hotels & Resorts is an operator of high quality independent and branded hospitality assets across all chain scales. The firm’s historical operating platform includes over 160 branded, independent and boutique hotels comprising more than 30,000 guestrooms in 31 states.