EAST HARWICH – After about 45 years under the ownership of the McClennen Family, the Wequassett Resort and Golf Club sold Tuesday to a New York-based real estate investment firm for nearly $102 million.
The 27-acre, 120-room resort has been a fixture on the shore of Pleasant Bay since it opened as the Wequassett House in the summer of 1925.
"We are excited to continue one of New England’s most special hospitality legacies with an investment in Wequasset,” EOS Investors, LLC, Managing Director Tom Burns said in a news release. “Wequassett is an irreplaceable resort, offering world-class experiences and exceptional service in a pristine, coastal destination. We are honored to add the beautiful and historic property to our drive-to resort collection.”
Simon Mais, chief operating officer at EOS Hospitality, said the resort has been a “beloved destination to generations of guests for almost a century. EOS Hospitality looks forward to building on the resort’s already incredible reputation and ushering in its exciting next chapter.”
Wequassett adds to EOS Investment’s holdings on Cape Cod; last November, the firm purchased the Red Jacket Resorts, including five properties on Cape Cod and one in New Hampshire, from the Davenport family. The sale price was not disclosed.
EOS’s portfolio of New England resorts now includes 17 properties, including more than 1,000 guest rooms and more than 20 restaurants and bars. Focusing largely on visitors who come from within driving distance, the resorts generate nearly $125 million of annual revenue, the company reported.
The sale of the Wequassett closed Tuesday; the sale price was $101,990,000. In addition to the inn, the resort has four restaurants, including Twenty-Eight Atlantic, the only restaurant on Cape Cod to have been awarded five stars by Forbes. It boasts indoor and outdoor conference spaces, a children’s center, two pools and four tennis courts. Guests have access to play on the private 18-hole Cape Cod National golf course. While the resort often bills itself as being located in Chatham, it is in East Harwich.
Mark Novota, the resort’s managing partner for the past 36 years, said he’s confident EOS will do an excellent job carrying on Wequassett’s legacy.
“They’re wonderful people. We couldn’t be happier,” he said Tuesday. With regard to the resort’s workforce, Novota said EOS “will keep 100 percent of the team together.” Like himself, a number of Wequassett employees have been there for many years. “It is a family,” Novota said.
“It has been an honor to serve the community throughout the decades and we are pleased to turn the [reins] over to an organization that shares in our vision and is committed to making the resort even better,” Novota said. “We are proud of all that we have accomplished and were extremely careful in choosing the right organization to pass the baton to. We are confident that EOS shares in that pride and what is special about Wequassett will live on.”
Novota said he will remain on the job as a consultant “for a period of time.”
This story has been updated to add new information.