Berkshire Resort Set To Close
The economy has doomed another classic resort. The Berkshire Eagle reports that the Eastover Resort in Lenox, Massachusetts will close at the start of November. Eastover has been open since 1947 and has been owned by the same family the entire time. The home, which is the former Fahnestock Estate will likely be put up for sale.The Eagle article interviews Dorothy H. "Ticki" Winsor whose father started the resort. She has lived their for 62 years of her live and her children and grandchildren were born there. Many of the employees have been working at Eastover for decades. Increased operating costs and local and state regulations made it hard for the family to afford the upkeep of the 500-acre resort.
The resort accommodated guests in a variety of rooms from dorms to luxury suites in the mansion. It operated differently than most resorts offering weeks aimed at singles, families and other specific groups. It also did not have a liquor license so guests had to BYOB.
Eastover has been the site of many weddings and other events and served as the site of the Massachusetts Special Olympic Winter Games for more than 20 years. The cannon at Eastover is the one that the Boston Symphony Orchestra uses during its performance of Tchaikovsky's "1812 Overture" at Tanglewood every summer.
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Reader Comments (Page 1 of 1)
Spectacular Bid May 6th 2009 10:28AM
I just don't see where this more commerical property will even sell in this climate and in particular in the Berkshires. A couple of examples:
An attempt over the last couple of years to make the former DeSisto School - f/k/a Bonnie Briar - mansion and 270 acres (stockbridge) into an equestrian resort never got off the ground due to economic concerns. It was auction off in a foreclosure sale last month for under $1.4 million (including the back taxes and $800k mortgage) while it was still being marketed for $4.5 million last fall. Only one bid was placed on it and it may now be either razed or become a nursing home.
Elm Court, held by the Vanderbilt heirs, the largest shingle style home in the US restored to being a luxury Inn and wedding venue has been on the market for a while. From $21 million down to $11 million today with no takers.
Perhaps Eastover is more viable turn-key purchase for a large hotel or boutique chain of inns as opposed to the examples above. However the price for Eastover will likely being significantly higher. If the place is suffering from occupancy issues now and yet with generational ties with customers I cannot think a new owner will turn that around.
ResortsWeb May 6th 2009 1:44PM
It's a shame that this beautiful landmark has to close down. I see my clients worrying about the economy. They are hesitating about modifying their resort web site. I know things will bounce back but I think we are in a new reality. The good thing is that I believe the new reality is that we will appreciate travel more and having "stuff" less, so places like Best Buy will lose share to places like Cirque du Soleil. People will spend more on experiences more than just things.