TPG Hotels, Resorts & Marinas — a Rhode Island-based hospitality group with hotels and resorts across the country — announced last week that it acquired Port Jefferson’s Danfords Hotel, Marina & Spa, located on the harbor in the village.
Originally established in 1986 as Danfords Inn, it boasts 92 guest rooms and suites. Its marina features more than 100 slips and over 1,000 feet of side to tie with the capacity to accommodate vessels up to 250 feet in length. Hotel stayers and locals visit its onsite restaurant and lounge, WAVE.
Some of the buildings on the property date back to the 1800s, when Port Jefferson was a bustling shipbuilding community.
“Danfords Hotel, Marina & Spa in Port Jefferson is a remarkable destination located in one of the highest barriers-to-entry markets in all of North America,” said Robert Leven, chief investment officer of Procaccianti Companies, in a statement. “Danfords is a perfect fit as we accelerate the growth of our recently launched marina platform. We have several more acquisitions in the pipeline and intend to have a significant concentration of East Coast marina properties by the end of 2021.”
The transaction is one of three acquisitions in the last seven months in TPG’s newly launched marina platform. In Rhode Island, TPG acquired both Dutch Harbor Boat Yard in Jamestown this June, and Champlin’s Hotel, Resort and Marina on Block Island in December 2020. The latter property is currently undergoing extensive renovations as part of a comprehensive improvement plan.
“It is not common to find the perfect buyer, but in this case we have achieved success,” Enrico Scarda, managing partner of The Crest Group, said in a statement.
Additionally, as part of the transaction, TPG will also manage catering operations at The Waterview restaurant located at the Port Jefferson Country Club.
TPG will embark on a property improvement plan at Danfords, including resortwide modernization, which includes the lodging and slip reservation systems and a full renovation of the resort’s guest rooms.
Additional renovations and improvements are also planned for the marina facilities.
The Crest Group was unable to further comment by press time.