Wisconsin Lakefront Resort Under New Ownership

AUBURN HILLS, Mich., March 24, 2011 /PRNewswire/ --  Illinois-based New Frontiers Capital and Massachusetts-based Claremont Companies purchased Blue Harbor Resort – http://www.blueharborresort.com – in Sheboygan, WI, on March 23, 2011.  

"We are honored to be joining the Sheboygan community, and we look forward to bringing even more guests to the Wisconsin shore of Lake Michigan," says New Frontiers Capital President Randy Dzierzawski.

The joint venture will help to ensure that Blue Harbor Resort will become the shining gem of Wisconsin's lakeside properties.

"We have given this purchase opportunity a great amount of review, and have come to the conclusion that this is a great property, in a great city, on a 'Great Lake,'" says Elias Patoucheas, Claremont Companies President.

During the next several months, the new team will work with existing staff to refresh the Blue Harbor Resort's interior designs and bring new life to the property in an effort to draw vacationers seeking a more sophisticated lakefront resort experience.

"Sheboygan will have a new partner that will help to ensure a solid, long-term tourist destination, as well as be an important employer and source of tax revenue," Dzierzawski says.

"Blue Harbor Resort is a special place, and with its unique waterfront location and classic architecture, it can be the setting for creating great memories for families, couples, business groups, golfers and water-lovers," Patoucheas adds.

"Sheboygan is thrilled to welcome Claremont and New Frontiers into our community," says Sheboygan Mayor Bob Ryan. "Blue Harbor is a unique gem in the area and we look forward to watching it flourish under new management."

Claremont and New Frontiers are privately held companies with experience in a variety of business ventures, including real estate, hospitality, entertainment and energy.

Both joint-venture companies have a wealth of experience and knowledge when it comes to hospitality acquisitions.

Claremont Hotels is a subsidiary of Claremont Companies. Claremont and its affiliates own and operate three hotels in the United States. The company has invested, developed and/or operated nine hotels during the past 20 years under the flags of Marriott Residence Inn, Marriott Courtyard, Marriott Spring Hill Suites, Hampton Inn by Hilton and Hilton Garden Inn.

New Frontiers Capital is part of the Forsythe Group of companies and owned by Gerald R. Forsythe. In the hospitality segment, New Frontiers Capital co-owns and operates the Mountain Grand Lodge and Spa and Avalanche Bay Indoor Waterpark at Boyne Mountain in Boyne Falls, MI, and owns Garland Lodge & Resort in Lewiston, MI.

Blue Harbor is a full-service resort with a spa, 182 resort suites, 64 detached luxury condominiums and a 54,000-square-foot indoor waterpark. Meeting accommodations include 16,800 square feet of flexible space, top in-house catering, and A/V and support services. http://www.blueharborresort.com

For management interviews or other information, contact:

Ron Garbinski, 248-840-6447, [email protected]

SOURCE New Frontiers Capital

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