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Jan 05 15 09:53a
Sedttle investors buy cLosed Semiahmoo Resort in Blaine - Puget Sound Business Journal
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Seattle investors buy closed
Semiahmoo Resoft in Blaine
Jun 21, 2013, 3:43pm PDT
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http://rvwvr,'.bizjoumals.corn/seattle/news/2013106/21/seattle-investors-buy-closed-serniahm... YA20L5
Jan 05 15 09:53a
Seattle investors buy closed Semiahmoo Resort in Blaine - Puget Sound Business Journal
A Seattle.based ownership group on Friday purchased the shuttered
Semiahmoo Resort and its still-open golf courses in Blaine for $19.5 million, the
group announced.
The resort, Iocated at the end of a spit in Blaine's Drayton Harbor, was
acquired by Resoft Semiahmoo LLC. The ownership group includes Seatde-
based Wright Hotels Inc. and Seattle investor Jerry Andres. The Coasfal Hotel
Group, also based in Seattle, will manage Semiahmoo and its two golf courses.
Hints that a deal was in the works surfaced in late May, when the Coastal Hotel
Group advertised two job openings at the resoft, The Bellingham Herald
reported at the time.
The Upper Skagit Indian Tribe held a rnajority stake in the previous ownership,
Semiahmoo Resort Co. LLC, which shut down the resort in December after
failing to find a buyer. The two golf courses have remained open.
Wright Hotels President Stuart Rolfe, in a statement, said his team hoped to
refurbish and reopen the resort'-before the end of the summer season."
in its press release, the ownership group said it plans to invest *a significant
amount of capital" in the properly.
The ownership group's intentions could be welcome news in Blaine, which was
sent reeling when the resort closecj late last year, eliminating more than 200
jobs.
Semiahmoo's new owners have a history of collaboration. Wright Hotels and
Anches in 2009 were part of a group that oought the Cedarbrook-Conference
Center in the city of SeaTac from lPMoqan Chase. Cedarbrook is also
managed by the Coastal Hotel Group.
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