US: Real estate firm Blue Flag Partners has acquired six hotels in Nantucket, spread across three transactions, which are to be operated by Life House.
The properties include Summer House at 27 Fair Street, Summer House at 29 Fair Street, Pineapple Inn on Hussey Street, India Street Inn on India Street, Hawthorn House on Chestnut Street, and a property on Federal Street that previously operated as a vacation rental.
Life House will operate a portion of the newly acquired portfolio as is during the high season, before supporting Blue Flag with various improvements during the upcoming off-season period.
“With signs of an accelerated recovery of travel demand to Nantucket, MA, based on the bookings we are seeing at hotels within our existing portfolio, we are pleased to announce our continued expansion through acquiring these six historic properties,” said Jason Brown, managing partner at Blue Flag. “We look forward to honouring the history of the island with our thoughtful approach to design and locally-rooted experiences.”
The hotels will join a growing portfolio of Blue Flag-owned properties in the area. Some of these include the recently transformed Faraway Nantucket, Life House Nantucket, and Kelley House in Edgartown.
“We have enjoyed working with Blue Flag to manifest their vision for locally-rooted, lifestyle hospitality experiences on Nantucket and Martha’s Vineyard,” said Bryan Dunn, head of growth at Life House. “We are thrilled to further our partnership with them by operating these new properties and collaborating on their restoration.”
Life House is a New York-based, venture-basked hotel brand, management and software company. It operates and brands four-star hotels as well as operating independent hotels under its Life Hospitality management platform.
Blue Flag Partners is an investment, real estate development and branding firm operating out of Boston. The company is currently targeting raw land, historic properties, hotel, campgrounds and restaurants.