Hampshire Hospitality Holdings, LLC, the operators of Mill Falls at the Lake Resort, has been acquired by Procaccianti Companies, a New England-based, second generation privately-held real estate investment and hospitality services organization. Mill Falls at the Lake is a collection of waterfront hospitality assets totaling 171 rooms along the shores of Lake Winnipesaukee in Meredith.
“Mill Falls at the Lake is a remarkable destination our family has admired and visited for decades” says James Procaccianti, president and CEO of Procaccianti Companies. “Opportunities to operate heirloom-quality, historic properties like Mill Falls are extremely rare and we feel privileged to be the new custodians of the tremendous legacies the company has established within the community.”
Mill Falls was has four separate hotel buildings, five restaurants, the Cascade Spa, an 11-tenant retail complex known as the Marketplace, and a Lake Activity Center.
“I’ve been vacationing at the lake my entire life and I’ve been fortunate to have owned a home and be part of this special community for the past 20 years” says Greg Vickowski, CFO and 30+ year member of Procaccianti Companies’ executive team. “Our firm’s award-winning management company is planning to invest in the hotels to improve the quality of the guest experience, build upon the wonderful service standards established by the previous operators and continue to help position Meredith as a top business and leisure destination. Additionally, we’d like to thank Paul Falvey and the team at Bank of New Hampshire who provided financing for the acquisition of Hampshire Hospitality Holdings.”
Mill Falls at the Lake continues a recent trend of transaction activity by Procaccianti Companies/TPG Hotels & Resorts, an operator of independent and branded hospitality assets across all chain scales. The firm’s historical operating platform includes over 160+ branded, independent and boutique hotels comprising more than 30,000 guestrooms in 31 states.