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. The sale was recorded in January of 2020,
Alexander & Bauer will take the reigns of the operation starting in April of 2020. Alexander will be the operations manager and handle the day to day operations. The popular Buckeye Tiki Bar is expected to continue operations as normal with the popular venue hosting Ohio State Games daily.
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. The hotel went thru several stages of renovation over a period of two years.
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.
When asked why Bay Lodging Resort Sold Mathys stated “It’s time for me to slow down and enjoy life a little more” Mathys stated he would be returning to his passion for auto racing with the Porsche Motorsports Team and Wright Motorsports.
Alexander Plans To Keep The Same Amenities
No changes are planned in the near future states Steve Alexander, new owner, and managing partner. Bay Lodging Resort has been reestablished under Mathys’ leadership as one of the premiere Put-in-Bay Hotels and the only indoor-outdoor pool on the island. The guests of the Bay Lodging Resort will continue to enjoy VIP access to Mathys’s other properties including the island’s largest and most popular Put-in-Bay Resort and the popular Blue Marlin Bar & Grill.