Burroughs & Chapin sells Marina Inn to New York buyer

Aside from leasing some prime real estate for zip lines, news about the Burroughs & Chapin company has been relatively quiet. But today it was officially announced that the company has sold the Marina Inn to Vista Group, a New York based company that primarily owns properties in the Northeast and Florida.

Portions of the news release are below.

The Vista Group Of Companies acquired The Marina Inn at Grande Dunes in Myrtle Beach, S.C. from Burroughs & Chapin Company, Inc. on Thursday, Feb. 16, 2012. Headquartered in Binghamton, N.Y. and with offices in Kitchener, Ontario, Canada, Vista owns and operates hotels, shopping centers, office buildings and retirement homes throughout the Canadian provinces of Quebec and Ontario, and in the United States in New York and Florida. Vista has also owned and managed hotels in the Province of New Brunswick and the State of Nevada. The Marina Inn is Vista's first property in South Carolina.

 The AAA four-diamond Marina Inn, located within the Grande Dunes Resort in Myrtle Beach, is renowned for its world-class accommodations and service. The only Myrtle Beach area hotel to be ranked among the "Top 25 Hotels in the United States" by TripAdvisor®'s 2011 Travelers' Choice Hotel Awards, it is ranked among the best hotels for meetings by Meetings South and Successful Meetings magazines. In addition, it is an Expedia® Insiders' Select™ best hotel and its premier restaurant, WaterScapes, continually wins awards for excellence.

"The Marina Inn is an important part of the Grande Dunes resort community," said Jim Apple, president and chief executive officer of Burroughs & Chapin Company, Inc. "However, it is the only hotel we operate, and it doesn't fit within our strategic plan. With Vista's acquisition, we can concentrate our resources on our core businesses. Burroughs & Chapin could not ask for a better company than Vista to acquire Marina Inn."

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