Asticou Hotel Sold After Owner's Bankruptcy
Portland Maine News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Asticou Hotel in Mount Desert undergoes ownership change due to unpaid contractor bills, with Ocean Properties acquiring it for $60.75 million. The sale comes after liens totaling $14 million from a renovation project, following a bankruptcy petition by four businesses over unpaid work. Harrington, the previous owner, faced similar accusations and owed $9.8 million to suppliers at the time of the sale. The deal marks a challenging period for Harringtons coastal empire, but offers a new beginning for the Asticou Hotel.
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