New York-based Life Hospitality, the tech-enabled and management arm of Life House focused on independent hotels, has added the 76-room BeachWalk Hotel in Sea Bright, N.J., to its portfolio.
The property, owned by Sunil Nayak of Innzen Hospitality, is wrapping up a major renovation to reposition the asset into a boutique hotel, reportedly the first of its kind in the beachside town.
The property is less than an hour away from Manhattan between the Atlantic Ocean and the Navesink River. The expansion will turn the existing 37-room property into a boutique hotel with 76 rooms under a to-be-announced brand upon completion this fall.
The new guestrooms will have views of the Atlantic Ocean along with access to the property’s private beach, swimming pool, and the hotel's waterfront Tiki Bar, in addition to the property’s 40-dock slips and 80 parking spots.
“After studying the landscape for management of independent hotels in seasonal resort environments, I was impressed by Life Hospitality and their impressive case studies in markets that feature similar seasonal demand patterns as Sea Bright,” Nayak said. “We look forward to starting a fruitful partnership with Life Hospitality, which we hope to expand to new properties in New Jersey as opportunities arise to acquire similar independent hotels throughout the region”.
Life House was founded by boutique hotel veterans in 2017 and is backed by such travel and technology investors as Thayer Ventures, Tiger Global, JLL Spark, and Ashton Kutcher & Guy Oseary’s Sound Ventures.
“We are excited to support Sunil and the partners with positioning this asset to optimize revenues and achieve outsized bottom line performance as a result of our lean and technology-enabled management platform,” said John Basting, VP acquisitions at Life House. “Considering the market’s proximity to Manhattan and the greater New York City Metropolitan population, we feel strongly that long-term supply/demand dynamics in the region are favorable and are actively seeking additional projects to collaborate on together across the Jersey Shore.”