Owner/developer Robert Cyr, who created the Nordic Village back in the 1980s, sold the property to Danny and Carla Lafayette of Lafayette Hotels, based in Bangor, Maine. Wason Associates was careful to consider Mr. Cyr's desire to find a buyer who shared a similar vision for the resort. Wason, who has helped Lafayette Hotels' purchase a number of hotels in the past, was well aware of their proven track record of providing quality hotel operations and a high standard of customer service. Lafayette Hotels now has 25 resorts and franchise hotels in Maine, New Hampshire, and Michigan.

Earle Wason, President of Wason Associates, oversaw the transaction with assistance from the Wason team; Peter Annon, CPA; Joe Cardillo, broker associate; and Wendy Casey. Financing was provided by Northway Bank, the primary lender, and Machias Savings Bank of Machias, Maine.

"There are obviously economies of scale in operating multiple resorts, as well as cross-marketing opportunities," states Earle Wason, President of Wason Associates. "A company such as the Lafayette's' can also offer competitive benefits and wages for their employees."

About Wason Associates

Wason Associates Hospitality Real Estate Brokerage Group is a highly-respected New England-based brokerage firm comprised of professionals who bring a unique combination of financial, banking, and real estate expertise to each transaction. President Earle Wason has over 25 years of experience in the hospitality real estate market. Offering advisory services to both buyers and sellers, Wason Associates provides a strategic, client-centric approach to problem-solving, financial advising, and transaction execution. For more information on Wason Associates, visit hospitalityrealestate.com or call 603-766-4982.

Abigail Burton, Public Relations / 877-873-7445 ext. 210 / Fax: 603-226-7445 / www.millennium-advertising.com /