PEB pays $174m for waterside resort in Rhode Island

Pebblebrook Hotel Trust (PEB) has acquired the AAA Four Diamond 257-room Gurney’s Newport Resort & Marina in Newport, R.I., for $174 million.

Gurney’s Newport is a 10-acre waterside resort located on highly visible Goat Island. The independent resort boasts 360-degree unobstructed water views of Narragansett Bay as well as Newport Harbor, and the Newport Bridge, creating a quintessential coastal New England experience. Gurney’s Newport features 257 guestrooms, including 18 spacious suites, and 80,000 square feet of flexible indoor and outdoor event space, surrounded by expansive lawns, sweeping water views, a marina, and an historic lighthouse. The resort contains a wide variety of waterside eateries, including Showfish Newport and The Pineapple Club, which feature ingredient-driven menus with healthy food, locally sourced dishes and seasonal classics. The resort also contains a 22-slip full-service marina with direct access to Gurney’s Newport. Additional resort