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Giri Hotels Acquires Anchorage By The Sea In Ogunquit, Maine

Apr 25, 2023•over 2 years ago

Acquiring Company

Giri Hotels

Acquired Company

ANCHORAGE

HotelHospitality

Description

Giri Hotels has recently announced their acquisition of Anchorage by the Sea, a waterfront hotel located in Ogunquit, Maine. The transaction was negotiated by Wason Associates Hospitality Real Estate on behalf of the Seller: AMIO, LLC and Anchorage Motor Inn Ogunquit Inc. This acquisition represents the blending of long-time, trusted Maine businesses that care greatly about guest experience and the local community. Anchorage by the Sea is the 47th hotel in Giri's portfolio and 24th property in Maine.

Company Information

Company

Giri Hotels

About

Giri Hotels owns and operates 47 properties in New England; in Maine, Massachusetts, New Hampshire, and Vermont. The company's tenets are offering top-notch customer service, unparalleled guest satisfaction and, most importantly, team-member development, which the founders firmly believe is the key to any business' success. For more information about Giri Hotels, visit the website: girihotels.com. View their entire hotel portfolio here. SOURCE Wason Associates

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed