Historic Captain Daniel Stone Inn changes hands

Posted Nov. 29, 2011, at 3:58 p.m.
Last modified Nov. 30, 2011, at 5:38 a.m.

BRUNSWICK, Maine — The Captain Daniel Stone Inn is under new ownership, just two years after a full-scale renovation brought the downtown inn back to life.

John Verreault of Tourism Properties LLC transferred the 24-room hotel and restaurant at 10 Water St. to 1827 LLC, which lists the same mailing address as Saco and Biddeford Savings Institution, according to Cumberland County property records dated Nov. 8 and accessed Monday. According to the Saco and Biddeford Savings Institution’s website, 1827 is the year of the bank’s founding.

Former inn co-owner Kim Verreault did not return a call for comment last Wednesday.

Kevin Savage, who is listed on the bank’s website as president of Saco and Biddeford Savings, did not return calls placed last Wednesday and Monday.

In a Nov. 21 liquor license application to the town of Brunswick, a man of the same name — Kevin Savage — is listed as the applicant on behalf of 1827 LLC. The Town Council gave unanimous approval to that liquor license for the inn.

County records indicate that the Verreaults secured mortgage loans and lines of credit totaling $1.75 million from Saco and Biddeford Savings Institution in connection with the purchase of the Captain Daniel Stone Inn in June 2009.

Before the Verreaults’ purchase of the property in May 2009, the inn and restaurant sat vacant for nearly a year after Augustine Lett of Woolwich closed his restaurant there and the property entered foreclosure in late 2008.

At the time of that foreclosure auction, the land, structures and interior furniture and fixtures were assessed at a combined $1.53 million.

At the time of the inn’s closure, former Brunswick Economic Development Director Mathew Eddy told The Times Record that multiple parties interested in purchasing the inn estimated it would cost more than $1 million to renovate.

The hotel and restaurant is now operating under the management of the Bangor-based Lafayette Hotels, which owns around 30 hotels in Maine and elsewhere, according to a general manager for the company, Brock Bradford.

In a phone interview Monday, Bradford said he did not know the time frame of Lafayette Hotels’ contract with 1827 LLC, but that it is for “at least five years.”

With the changeover, Bradford said the inn retained most of its previous employees.

“Almost all of the employees who were there before are still there,” Bradford said.

Bradford said he was not aware of the details of the exchange between Tourism Properties and 1827 LLC.

So far, Bradford said changes at the hotel are already under way, extending restaurant hours and completing a new spa that Bradford said could attract local customers as well as hotel guests.

Bradford said the restaurant will now offer a limited service menu from Sunday through Wednesday and that renovations to the spa are nearing completion.

“Our goal is to move forward as quickly as possible to get that up and running,” Bradford said.

As part of extending restaurant hours and offerings, Bradford said his company also hired a new food and beverage director, Susan Peters.

Overall, Bradford said the company won’t look to make any drastic changes to operations at the Captain Daniel Stone Inn.

“A lot of good things were being done and we’ve just come in to see what’s going on and make tweaks as we see fit,” Bradford said.

Stephanie Slocum, executive director of the Brunswick Downtown Association, said the business is important to the downtown.

“We’re very glad that it’s continuing to operate,” Slocum said. “It’s an important venue for future downtown plans, including efforts to attract small meetings and conferences to town.”

While 52 additional rooms opened up at the downtown Inn at Brunswick Station since the Verreaults renovated the Captain Daniel Stone Inn in 2009, Slocum said that, with good management and marketing, “we can fill all of the rooms in downtown Brunswick.”

Bradford said he is not worried about competition posed by other hotels in town.

“It’s not like other cities where new hotels are going up all the time,” Bradford said.

And during the busy times, such as Bowdoin College’s parents weekend or reunion weekend, Bradford said “pretty much everyone is full.”

To see more from the Times Record, visit timesrecord.com

SEE COMMENTS →

ADVERTISEMENT | Grow your business
ADVERTISEMENT | Grow your business

Similar Articles

More in Business