HREC Investment Advisors arranged the sale of the 152-guestroom Chateau Resort & Conference Center located in Tannersville, Pa.
Ketan Patel and Mark von Dwingelo, both SVPs with HREC Investment Advisors, exclusively represented the seller of the hotel.
The resort is situated in the Pocono Mountains, a family vacation area in the northeastern U.S. offering recreational activities through all seasons. Many major metropolitan areas are located within driving distance of the resort including: Scranton and Allentown, Pa.; New York City; and Philadelphia. In addition to the resort’s facilities, the Chateau’s location offers a large number of activities for guests to participate in just steps from the property.
Camelback Mountain Resort is within walking distance of the resort. This year-round destination offers skiing, snow tubing, a mountain coaster, zip line, hiking and outdoor sports. The largest outdoor waterpark in the Poconos is also located at the base of Camelback Mountain. Camelbeach has more than 37 water rides and attractions on 15-acres just steps from the Chateau Resort and Conference Center.
The resort is also home to more than 17,000 square feet of conference and event space. The property is pet friendly, and also offers in-room dining, a full bar and a fireside restaurant with views of Camelback Mountain.
HREC is a lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting (market studies and appraisals) and litigation support.