Badlands Hotel Capital has been appointed by Blue Water Development to provide asset-management services for nine hotels and outdoor hospitality properties across six East Coast resort markets.
Four properties within the portfolio—which is operated by three management companies—are in Ocean City, Md., including the Commander Hotel & Suites, Sealoft Oceanfront Hotel, Aloft Ocean City and Shore Point Cottages. Other hotels include the Bay Resort Waterfront Hotel in Dewey Beach, Del.; BlueFin Bungalows and Marina in Chincoteague Island, Va.; Drifting Sands Oceanfront Hotel in Ship Bottom, N.J.; Crystal Coast Oceanfront Hotel in Atlantic Beach, N.C.; and the Comfort Inn & Suites in Daytona Beach, Fla.
“We are excited to have Badlands Hotel Capital overseeing our owned assets and helping us and our operating partners drive performance and value for these properties,” Todd Burbage, CEO of Blue Water Development, said in a statement. “I have known the Badlands team for several years and have been impressed by their knowledge of the hospitality business and their deep ownership and operational experience.”
Al Young, principal at Badlands Hotel Capital, added: “We believe our ownership-minded approach to asset management will enable us to help Blue Water improve operations and grow the value of their hospitality assets.”
With this portfolio, Badlands now manages 25 hotel and RV campground properties across North America, including two in which the company holds an ownership stake.