It owns several residential complexes in Ohio, North Carolina and Illinois. Palazzolo declined to give a reason for the sale, saying it was a "business decision," but did say The Finch Group has shifted its focus away from hotels and toward other properties, such as residential units. She referred to the hotel as "a quiet partner" because it feeds customers to businesses throughout the town. He estimated the resort hosts about 60 conventions a year, which originate throughout New England.Įlizabeth Wurfbain, executive director of the Hyannis Main Street Business Improvement District, said the convention focus has helped draw new people to the area. Palazzolo said he didn't expect any sale to take place this summer. There is not a listing price for the property. It's a successful property now and maintained very well with a lot of upside in the future," Weissman said. Weissman said the business is profitable and potential buyers have shown interest in keeping it a resort. The facility includes about 31,000 square feet in convention and meeting space, he said.Ībout 80 ownership groups have expressed interest in the property in the past two weeks, said Jason Weissman, principal of Boston Realty Advisors, which is marketing the site. The Finch Group bought it for $13.6 million, renamed it and put $11 million into initial renovations, including new furniture and carpet, said Ernie Palazzolo, of TFG Hotels and Resorts, which is the hospitality arm of The Finch Group. It was formerly called Four Points by Sheraton Hyannis Resort and owned by Starwood Hotels and Resorts. The 54-acre property - including a 232-room conference hotel, a restaurant and bar, and 18-hole golf course - was bought in late 2007 by the real estate company The Finch Group. HYANNIS - The Resort and Conference Center at Hyannis is up for sale.
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