NEW YORK—Carey Watermark Investors (CWI 1) announced that it has acquired The Equinox Golf Resort & Spa, part of Starwood’s The Luxury Collection brand. The expansive, historic resort is located on 1,300 acres between the Green and Taconic Mountains in Manchester, Vt., and includes 195 guestrooms, 18,500 square feet of flexible meeting and event space, an 18-hole championship golf course, a 13,000-square-foot spa, five food and beverage outlets, and a range of unique guest amenities and experiences.
Originally built in 1796, the resort, which is listed on the National Register of Historic Places, has hosted four different American Presidents and has expanded over the centuries. In 2008, the property was converted to a resort and became part of The Luxury Collection brand. Since 2007, over $20 million in capital expenditure projects were completed, including a full guestroom and public area renovation, as well as significant investment into the mechanical, electrical, plumbing, and building façade.
CWI 1 plans to spend in excess of $6 million on additional property enhancements, including a soft goods guestroom renovation, public/meeting space, and food and beverage outlet improvements and other building/mechanical upgrades.
Situated within driving distance of Boston and New York, The Equinox benefits from strong demand from these feeder markets. Popular seasonal activities and sports include golfing, fly fishing, hiking, boating, mountain biking, and horseback riding. The resort also benefits from significant downhill and cross-country ski demand due to its proximity to Bromley and Stratton, two award-winning ski mountains located within a 20-minute drive.
Manchester Village is a high-end New England town that is well-known for both the iconic Equinox Resort as well as its retail offerings, including antique shops in the historic downtown and the Manchester Designer Outlets, featuring retailers such as Michael Kors, Coach, Vineyard Vines, and Ralph Lauren. The village is also a famous destination for fall foliage seekers.