Manteo Resort has been sold and will now join the Kelowna based hotel group that currently owns and operates the Four Points by Sheraton Kelowna Airport and the Hotel Eldorado.
Adrian Block, CEO and president of The Rykon Group, and Ted Callahan, president and CEO of Argus Properties Ltd, announced the change in ownership for Manteo Resort, which came into effecy Tuesday March 1.
In a press release from Argus, they say Manteo Resort has held proud local ownership since 1996 and both parties are committed to ensuring this important legacy lives on. The natural congruence of Manteo Resort and the historic Hotel Eldorado will offer guests a broader range of amenities that their shared 1,000 ft. lakefront boardwalk and beach provides while maintaining their individual identities.
“The prospect of selling Manteo Resort was not an easy process,” said Adrian Block, in the release. “I am thrilled, however, to pass it on to a group that I know will ensure its continued success for our guests, long-term colleagues and the hotel itself.”
The sale includes the hotel operation and assets but does not include the Villas or the Manteo Beach Club which will be run jointly between the two organizations.
“We feel very fortunate to have this opportunity that may only come along once in a generation,” said Ted Callahan. “Manteo Resort is a great asset to Kelowna and, in harmony with the Hotel Eldorado, we are honoured to be able to showcase these lakeside destinations both within our community and to international visitors.”
The agreement provides for the continued employment of all employees and recognizes their tenure. The employees will benefit from broader growth opportunities in joining the Argus Hospitality Group with a current portfolio of hotels that locally includes Manteo Resort, Hotel Eldorado, and Four Points by Sheraton Kelowna Airport.