Photo courtesy of the Procaccianti Cos. 

After over 30 years operating an iconic vacation destination in Meredith, Hampshire Hospitality Holdings has sold four lakeside resort hotels with 171 rooms between them to the Rhode Island-based Procaccianti Cos. 

“Mill Falls at the Lake is a remarkable destination our family has admired and visited for decades,” Procaccianti President and CEO James Procaccianti said in a statement. “Opportunities to operate heirloom-quality, historic properties like Mill Falls are extremely rare and we feel privileged to be the new custodians of the tremendous legacies the company has established within the community.” 

Nestled along the shores of Lake Winnipesaukee in the center of Meredith, Mill Falls features four separate hotel buildings, five restaurants, the Cascade Spa, an 11-tenant retail complex known as the Marketplace and an aquatic activity center.  

The Bank of New Hampshire provided financing for the transaction, an April 29 statement from the Procaccianti Cos. said. Terms of the sale were not disclosed, but the Belknap Registry of Deeds recorded a $37.53 million mortgage from the bank to Hampshire Hospitality Holdings on April 26. The four properties are assessed at $24.12 million, according to Meredith land records. 

A longtime Procaccianti executive has a close tie to the Lakes Region – CFO Greg Vickowski has owned a house in the area for many years. 

“Our firm’s award-winning management company is planning to invest in the hotels to improve the quality of the guest experience, build upon the wonderful service standards established by the previous operators and continue to help position Meredith as a top business and leisure destination,” he said in a statement. 

The firm also bought of two 17th century inns on Nantucket, The Veranda House and the Chapman house, in March. The company owns and operates about a dozen boutique, independent or historic resorts and hotels throughout the United States.