WILLIAMSTOWN -- The majority share of The Orchards Hotel has a new owner.
US Hotels Group, a luxury hotel company based in Maine, purchased a 90 percent share of the four-diamond hotel for an undisclosed amount earlier this month. The share was previously owned by the Carlyle Group, which purchased the hotel with Hay Creek Hotels in 2006.
US Hotels Group announced the purchase of the Orchards, as well as the acquisition of The Centennial in Concord, N.H., on Sept. 17.
Paul Hanley, chief executive officer of US Hotels Group, said Monday that the Orchards will continue to be managed by Hay Creek Hotels and there will be no significant changes in its operation. Hay Creek Hotels has a 10 percent share of the Orchards.
"We continually look for opportunities to grow, and we felt this was a terrific property and terrific location," Hanley said.
US Hotels Group wanted to have a presence in Berkshire County, and it felt the Orchards was a great candidate to achieve that goal, he said.
"We're delighted to be in the Berkshires, and we'll hopefully have a greater presence there in the future," he said.
The US Hotels Group also owns hotels and restaurants in Maine and Vermont.
Hanley said all hotels undergo periodic renovation and renewal, and some repair, maintenance and renovation work will be performed on the Orchards over time.
"The property will continue to be improved," he said. "We want
He said exact terms of the acquisition are confidential, but it was a "combination of some cash consideration as well as assumption of existing debt operations."
The property is valued at about $2.4 million, according to records from the Williamstown Assessor's Office. According to documents from the Northern Berkshire Registry of Deeds, US Hotels Group, operating as HCC Orchards LLC, took out two mortgages totaling about $5.1 million on Sept. 13.
The Carlyle Group, in partnership with Hay Creek Hotels, acquired the Orchards, which is on Adams Road, for about $6.3 million in 2006. Prior to that, the hotel had been owned by International Hotel Management and Development Inc.