Equinox Resort sold to Arizona company

Vermont Business Magazine, Aug 01, 2000 by Marcel, Joyce

A majority share of Vermont's famous, luxurious and eminently historic Equinox Resort in Manchester has been bought by the Olympus Real Estate Corporation of Scottsdale, AZ, as an addition to its exclusive Rockresorts collection of destination hotels. The purchase took place in late June and was announced on July 6.

The amount of the sale was not disclosed.

"We don't give that out," said Michele Wimpling, a principal with Olympus. "The previous owners are actually our current partners. They include the Equinox Resort Associates and Callaghan & Partners. They owned the property, and we co-invested with-them. We bought the majority, so we control the property now."

In its recent past, the 230-year-old hotel was owned by Guinness Brewing of London, but they did not have an interest in the property when it was bought by Olympus, Wimpling said.

"Guinness was not involved in the property before the sale," she said. "I don't know how long ago they were involved."

The 183-room (and 29 suite) hotel first began as the Marsh Tavern in 1769; it was an important meeting place for American revolutionaries and was the first Tory property seized by Americans to support their struggle against England.

Spanning more than a thousand scenic acres, the resort features the hotel, the Charles Orvis Inn and Townhouses, a fitness spa and the 18hole championship Gleneagles Golf Course.

Current general manager S Lee Bowden, who has been managing the hotel since 1991, will remain, Olympus said.

Under his management, The Equinox received Meetings & Conventions Magazine's Gold Key award in 1999 and has been recognized by American Express Platinum as one of the fine hotels, resorts and spas in North America.

The Scottsdal e- based Olympus Hospitality Group, an affiliate of the real estate corporation, acquired the Rockresorts brand in 1999 and launched its collection of four and five-star hotels in March of this year.

It also owns Rosario Resort & Spa in Washington State's San Juan Islands, La Posada de Sante Fe Resort & Spa, Cheeca Lodge in the Florida Keys, and CuisinArt Resort and Spa in Anguilla.

"The Equinox is a terrific resort opportunity in New England," Wimpling said. "It's a wonderful place. It fits with our collection, given its beautiful environment and world-class amenities."

Olympus will focus on an expansion of the resort's spa facilities, improvements to the Marsh Tavern restaurant and renovation of the guest rooms, meeting spaces and other public areas. The hotel will not close during renovations.