Greenwich Hospitality Group announced it has acquired a 57-year leasehold interest in The Exeter Inn in Exeter, N.H., from Phillips Exeter Academy. Main Street Hospitality and Arbor Lodging are partners in the transaction.
Greenwich Hospitality Group plans to reposition the property with upgrades to guest rooms, public spaces and food and beverage offerings. Main Street Hospitality, based in Stockbridge, Mass., will provide ongoing asset management services for the property.
“This acquisition represents a disciplined addition to our New England portfolio,” said Charles Mallory, founder and CEO of Greenwich Hospitality Group. “We focus on assets with strong fundamentals in markets that offer both cultural relevance and sustained demand. Exeter presents a compelling opportunity, and the long-term lease structure allows us to invest with a clear, forward-looking vision. On a personal note, the Academy holds meaning for my family, as my father is an alumnus.”
Investors in the project include Sarah Eustis, CEO of Main Street Hospitality; Charles Mallory of Greenwich Hospitality; Adam Cassidy of Clearview Development; and Arbor Lodging, founded by Vamsi Bonthala and Sheenal Patel, both graduates of Phillips Exeter Academy.
Exeter draws year-round demand from Phillips Exeter Academy, local institutions and its proximity to New Hampshire’s Seacoast. The Exeter Inn is situated in downtown Exeter.
Greenwich Hospitality Group operates the Delamar Hotel Collection, six properties across Connecticut and Michigan, alongside Inn at Longshore in Westport, Conn.