Bay Lodging Resort Sold – Put-in-Bay
In what may be the largest single financial transaction to date at Put-in-Bay Ohio, the Bay Lodging Resort sold to S&B Investments led by Steve Alexander & Dr. Brendan Bauer On January 6th, 2020. The Real Estate changed hands at $3.6 million dollars and chattels, goodwill, and related assets including Put-in-Bay Golf Cart Rentals at $800,000 for a total sale price of $4,400,000.
Mathys Sells Bay Lodging Resort At Put-in-Bay
Bay Lodging Resort was owned by Mark Mathys who purchased the hotel out of preforeclosure action several years ago. The hotel was extensively remodeled including an expanded bar & pool deck and new furniture & bedding and Mathys built sales averaging over $1.2 million annually.
Alexander will be the operating partner and Mathys will maintain a small ownership role for an undisclosed period of time. Hailing from Port Clinton Ohio, Alexander has been involved at Put-in-Bay for over 10 years and a visitor for over 20 years. The group plans minimal operational changes with the exception of more focus on the popular tiki bar.