One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 CONFIDENTIAL OFFERING MEMORANDUM W!Wason AssociatesTelephone: 603.766.4982 ONE OF ’S TOP RESORT INNS | JACKSON, NH1 www.hospitalityrealestate.com Earle Wason, CCIM President & Owner, Wason Associates 603-766-4982 Table of Contents [email protected] Peter Annon CONFIDENTIAL OFFERING 3 CPA, RFC EXECUTIVE SUMMARY 4 603-766-4982 [email protected] PROPERTY INFORMATION 5 LOCATION MAP 7 Joe Cardillo Broker Associate DETAILED MAP 8 603-766-4982 PROPERTY MAP 9 [email protected] PROPERTY OVERVIEW 10 Wason Associates Hospitality RESORT HISTORY 11 Real Estate Brokerage Group WEDDING BUSINESS 14 1 New Hampshire Avenue, Suite 125 Portsmouth, NH 03801 DINING OVERVIEW 15 Office: 603-766-4982 MEETING SPACE OVERVIEW 16 hospitalityrealestate.com CAPITAL IMPROVEMENTS 17 Exclusively Listed by VALUE ENHANCEMENT OPPORTUNITIES 18 Wason Associates Hospitality STAFFING DETAIL 19 Real Estate Brokerage Group LOCATION OVERVIEW 20 JACKSON, NEW HAMPSHIRE 21 VALLEY ATTRACTIONS 22 WINTER ACTIVITIES AND EVENTS 23 SPRING ACTIVITIES AND EVENTS 24 SUMMER ACTIVITIES AND EVENTS 25 FALL ACTIVITIES AND EVENTS 26 MARKET OVERVIEW 27 IN THE AREA 28 LOCAL COMPETITIVE LANDSCAPE 29 DISCLAIMERS 30 TEAM PROFILES 31 LINKS 32

One New Hampshire Ave, Suite 125 One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Portsmouth, NH 03801 Telephone: 603.766.4982 Telephone: 603.766.4982 2 www.hospitalityrealestate.com www.hospitalityrealestate.com One New Hampshire Ave, Suite 125 CONFIDENTIAL OFFERING Portsmouth, NH 03801 W!Wason AssociatesTelephone: 603.766.4982 THE WENTWORTH | JACKSON, NH3 www.hospitalityrealestate.com Executive Summary

OVERVIEW HIGHLIGHTS

Seldom seen acquisition opportunity in picturesque Jackson, New • 61 guestrooms and suites, plus management of 9 two- or three- Hampshire. Nestled in the valley of the White Mountains, The Wentworth bedroom condominiums. is one of the last remaining hotels in New England that maintains a historic atmosphere with all the modern amenities and upgrades. The hotel has been • Includes a 150-seat restaurant, a 75-seat seasonal deck; a 30-seat piano owned by the same successful owner-operators for nearly 30 years and bar/cocktail lounge and a stationary 3200 square-foot event tent for offers numerous advantages to new owners via well-established revenue wedding dinners and receptions to accommodate up to 213 guests. streams that include an upscale farm-to-table restaurant, a piano bar/ • Outdoor heated swimming pool, single and double massage cocktail lounge, a spa, meeting rooms, a stationary wedding/event space, rooms, fully equipped gym, tennis courts. onsite condominium rentals and more. • Two meeting rooms accommodating up to 80 people, with access The Wentworth represents an opportunity to purchase a stable and growing to breakout rooms and high-quality audiovisual equipment. business with a proven track record in one of New England’s drive-to locations, not far from , Portland and other urban cities. The 8.5- • Full fire protection throughout the complex, an upgraded (2018) acre property also offers multiple expansion opportunities via a two-story alarm system that is monitored 24/7 by Pope Security. building not currently in use and land area to build a year-round wedding/ special event facility. The Wentworth also abuts a golf course and cross- • Access to and frontage on the Wildcat River and Jackson Falls. country ski trails; and boasts a prime location in the center of Jackson, a • Unencumbered by franchise and management controls. year-round destination minutes from four well-known ski resorts.

DO NOT CONTACT MANAGEMENT OR EMPLOYEES IN ANY WAY FOR MORE INFORMATION OR A PROPERTY TOUR, CONTACT 603-766-4982 Price $12,000,000

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 4 www.hospitalityrealestate.com Property Information

THE OFFERING MAIN INN UNIT BREAKDOWN*+ CONDOMINIUM MANAGEMENT SUBJECT PROPERTY 1 Carter Notch Road & 1 Cottage Drive & SINGLE QUEEN 16 THE WENTWORTH PROVIDES MANAGEMENT FOR 0.98 Riverfront Acres on Carter Notch Road 9 TWO- AND THREE-BEDROOM PRIVATELY OWNED Jackson, New Hampshire 03846 CONDOS IN ITS CONDOMINIUM MANAGEMENT SINGLE QUEEN & PULL-OUT DOUBLE SLEEP SOFA 2 PROGRAM. ASSESSOR’S PARCELS Map: 000V2 Lot: 00000G Map: 000V01 Lot: 000037 TWO DOUBLES & PULL-OUT DOUBLE SLEEP SOFA 3 Map: 000v02 Lot: 000041 *All Main Inn bathrooms have tile floors and include a walk-in shower; 5 units also GUEST ROOM AMENITIES include a traditional claw foot tub IN-ROOM SAFE SITE DESCRIPTION WI-FI IRON AND IRONING BOARD SITE SIZE 8.54 Acres; +/- 59,000 S.F. Gross Building THORNYCROFT COTTAGE BREAKDOWN*+ KEURIG COFFEE MAKER Area KING PARLOR SUITE WITH PULL-OUT DOUBLE SLEEP SOFA, GAS FIREPLACE 12 TELEPHONE Fee simple TYPE OF OWNERSHIP & PRIVATE OUTDOOR HOT TUB T.V. WITH BUILT-IN DVD PLAYER OR ATTACHED TIER Full service BLU-RAY DVD PLAYER (SUITES INCLUDE 2 OR 3 T.V.S) *All Thornycroft Cottage bathrooms have heated quartz floors and LOCATION Town Center / Wildcat River fiberglass steam showers WILDWOOD COTTAGE # OF FLOORS Mix of 2 & 3 story buildings CURRENTLY USED FOR STORAGE ONLY BUT HAS HANDICAP PARKING Available ARDEN COTTAGE*+ SPACE FOR 4 ADDITIONAL GUESTROOMS. DELUXE KING WITH GAS FIREPLACE & PRIVATE OUTDOOR HOT TUB 3 CONSTRUCTION/MECHANICAL DELUXE KING WITH GAS FIREPLACE & OVERSIZED WHIRLPOOL HOT TUB 9 FIRE PROTECTION THE ENTIRE COMPLEX HAS FULL FIRE PROTECTION 1883/1869/1920/1915 YEARS BUILT *All Arden Cottage bathrooms have tile floors and tiled walk-in showers AND EVERY BUILDING IS FULLY SPRINKLED (EXCEPT FOUNDATION Concrete FOR THE AMSTER COTTAGE WHICH IS EXEMPT BECAUSE IT HAS 4 GROUND-FLOOR GUESTROOMS FRAMING Wood Frame FAIRLAWN COTTAGE *+ WITH 2 EXITS AND 6 WINDOWS EACH). EXTERIOR Cedar Shakes, Clapboard, Stucco PARKING Asphalt Paved KING PARLOR SUITE WITH GAS FIREPLACE & PRIVATE OUTDOOR HOT TUB 4 ROOF Gabled Asphalt Shingles KING PARLOR SUITE WITH GAS FIREPLACE & OVERSIZED WHIRLPOOL TUB 4 + Marble or Quartz Countertops in all bathrooms HVAC Central Forced Air Heat and Air Condition- *All Fairlawn Cottage bathrooms have marble floors and include fiberglass ing in all Common Areas and Guestrooms steam showers ELEVATOR Yes, Stanely Elevator installed in 2018 to service the Main Inn and Thornycroft AMSTER COTTAGE*+ UTILITIES KING PARLOR SUITE WITH GAS FIREPLACE 4 WATER Town Water *All Amster Cottage bathrooms have wood floors, fiberglass showers, traditional bathtubs and access to a shared 8-person outdoor hot tub and sauna SEWER 3 Holding Tanks & Leach Field ELECTRICITY NH Electric TRANSPORTATION HEAT Forced Hot Air; Propane/Natural Gas/Oil HIGHWAY(S) I-95, NH Routes 16 and 302 Flood Zone: The Subject is located in flood Flood Zone: The Subject is Located in Flood Zone AE; FEMA Map: 33003C0093D, AIRPORT(S) Boston Logan International Airport/ March 19, 2013 Dated March 19, 2013 Portland International Jetport

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 5 www.hospitalityrealestate.com “ In New Hampshire’s Mount Washington Valley, the New England vibe abounds. But perhaps no town in the popular tourist region exudes that Currier & Ives feeling more than Jackson, with its history, dramatic scenery, welcoming restaurants and pubs, and graceful hotels.”

- The Boston Globe

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 W!Wason AssociatesTelephone: 603.766.4982 THE WENTWORTH | JACKSON, NH6 www.hospitalityrealestate.com Location Map

HIGHLIGHTS:

• 1-1/2 hours from Portland International Jetport

• 2 hours from Concord, NH

• 2 hours from Portsmouth, NH

• 2-1/2 hours from Manchester, NH

• 3 hours from Boston Logan International Airport

• 3-1/2 hours from Montreal, Canada

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 7 www.hospitalityrealestate.com Detailed Map

J HIGHLIGHTS: I F

• 1.9 miles from Black Mountain Ski Area (A) H • 2.8 miles Storyland & Living Shores Aquarium (B) A • 6.7 miles from Attitash Mountain Resort (C)

• 8.9 miles from North Conway Village & B Access to to (D) C • 9.5 miles from Cranmore Mountain Resort (E) DE • 10.4 miles from Wildcat Ski Area (F) G • 11 miles from Settlers Green Outlet Shopping (G)

• 12 miles from the Mount Washington Auto Road (H)

• 17 miles from the Cog Railway (I)

• 19.1 miles from the top of Mount Washington (J)

Links can be found on page 38

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 8 www.hospitalityrealestate.com Map of the property including the 80 condos of which the Wentworth has 8 to 12 units in their rental pool per year.

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 9 www.hospitalityrealestate.com One New Hampshire Ave, Suite 125 PROPERTY OVERVIEW Portsmouth, NH 03801 W!Wason AssociatesTelephone: 603.766.4982 THE WENTWORTH | JACKSON, NH10 www.hospitalityrealestate.com Resort History

For more than 100 years, The Wentworth has played an important role in the development of Jackson Village, New Hampshire. Both the resort and the town share a colorful history shaped by the majestic environment of The White Mountains and the Mount Washington Valley. The Early Years Joshua Trickey built The Wentworth in 1869 as a wedding gift to his daughter Georgia and her husband to-be, General Marshall Wentworth. Wentworth had served as a General for the Union Forces in the Civil War and wanted to settle in the tranquility of the Mount Washington Valley. Over the years the Wentworth’s added the Arden Cottage, Wentworth Hall, Thornycroft, Wildwood Cottage and Glen-Thorne. Eventually, the complex included 39 buildings and was called Wentworth Hall.

For many years, Wentworth Hall was a self-sustaining complex that accommodated up to 400 people and included an electric plant, a farm, greenhouses, a dairy and pasteurization plant, a laundry, a blacksmith, a garage with mechanics, a casino, a golf course and more. The Wentworth Golf Course, built in 1895, was the first in the region with six holes. It was later expanded to 18 holes.

Playground for the Rich and Famous Nathan Amster, a railroad tycoon from , purchased Wentworth Hall in the 1900s. By the 1920s, Jackson had become one of the most popular resort destinations in the Northeast, with up to 40 trains per day delivering visitors anxious to experience the natural beauty of the area. Wentworth Hall was soon recognized as one of the most exclusive resorts in New England.

In the summer, people flocked to the Wentworth Hall solarium that stretched across the Wildcat River, directly below Jackson Falls. Guests enjoyed al fresco dining and dancing in the solarium. A swimming pool was created in the river below the solarium, naturally bordered by large rocks and perfect for lounging. Because of its precarious location, the solarium was dismantled every fall and reassembled the following summer.

The Wentworth would change hands two more times, in the early 1930s and again in the 1970s, before being purchased by Fritz Koeppel in 1991. When discovered in 1990 by veteran hotelier Koeppel, he knew he had found his ideal resort. “It (The Wentworth) presented a great opportunity to apply everything I’ve learned about hospitality to my own business,” said Koeppel.

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 11 www.hospitalityrealestate.com Resort History

A New Era A native of Zurich, Switzerland, Koeppel grew up in the hospitality business; his parents owned and operated a restaurant. He moved permanently to the United States in the mid 1970s, with a degree from renowned Hotel Management School of Lausanne, Switzerland.

Koeppel had more than 20 years of hospitality management experience, having worked eight years with Ritz-Carlton Hotels and eight years with the Four Seasons. He held positions such as Food and Beverage Director, Executive Assistant and General Manager.

In 1990, Koeppel decided to pursue his dreams of owning a hotel. He moved from the very famous Banff Springs Hotel where he was General Manager. His basic requirements in purchasing a hotel included a property with a three-season environment, near mountains, with access to a golf course and close to the water. He looked at every available property with more than 35 rooms and a restaurant in Vermont, New Hampshire and Maine. Koeppel found his ideal location tucked away in historic Jackson Village. Shortly after purchasing The Wentworth he met Eleanor Murphy, a native of Ireland with a degree in Linguistics and Business from University College Cork who was travelling through America. Eleanor had worked in hotels across Europe starting at 16 years of age in the Isle of Mann and always had a love for the hospitality industry. They immediately connected and started their journey to restore this beautiful hotel to its former glory together. Since 1991 they have invested almost 12 million dollars back into the hotel. In the early years capital improvements consisted of switching the heating system from electric to a combination of oil and propane, adding a new roof and installing a heating and air-conditioning system throughout the complex. Many of the surrounding cottages were not winterized in the early years of the Koeppel’s tenure and were closed during the winter. After several years of capital improvements dedicated solely to infrastructure, in 1996 the Koeppel’s were able complete a superficial improvement that could actually be seen by their guests: they completely renovated and restored the lobby. Since then the Koeppel’s have been tireless in their quest to restore this old hotel to its former glory.

Looking Ahead Today The Wentworth is comprised of the Main building (the original Thorn House) and five cottages. There are 80 townhouse condominiums spread throughout the property, some which may be rented through the hotel. Under the Koeppel’s direction, all of the hotel units have been completely renovated. Each of the cottages were stripped down to the four walls and completely rebuilt as beautiful guestrooms with gas fireplaces and either an oversized whirlpool tub or the very popular private outdoor hot tub. The Koeppel’s have been focused on the romantic market, and today its reputation is widespread. The hotel boasts more private hot tubs than any other hotel in the Northeast. A major construction project was undertaken in 2013 and 2014 which added 12 new guestrooms, all accessible from the main inn, plus a new kitchen, laundry and guest gym. This renovation project was completed in August 2014 and has brought the total number of rooms at The Wentworth to 61.

Each of the 61 guestrooms has lovely views of the Wildcat River, the 18-hole Wentworth Golf Course or the charming village of Jackson.

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 12 www.hospitalityrealestate.com Resort History

Year-Round Activities As in its glory days of the 1920’s, The Wentworth continues to offer an abundance of popular recreational activities. The solarium is gone, but an outdoor heated pool is on site. Jackson Falls continue to rush by across from the hotel, and the 18-hole PGA-rated golf course now has electric carts. Summer activities also include thousands of miles of hiking trails in the White Mountain National Forest, and nearby rivers and lakes offer whitewater rafting, canoeing and fishing.

In the winter, the most extensive cross-country ski trails in the Northeast start at the Inn’s front door. Four major downhill ski resorts are just minutes away. There is a nearby ice skating rink, sleigh rides and, for those who prefer the warmth of the indoors, the resort has an entertainment room featuring a large-screen TV with a VCR, board games and books. The Wentworth offers ski packages, which include breakfast and dinner.

Rates and Special Occasions Rates vary slightly by season with many different packages available, including bed and breakfast packages and dinner and breakfast packages with full a la carte dinner and breakfast in The Wentworth’s elegant dining room. The Wentworth was the first AAA four diamond-rated restaurant in the area and held this distinction for many years until the Koeppel’s choose to no longer be represented by AAA. The restaurant was also the first hotel in New Hampshire to be awarded with certified local designation from the NH Farm to Restaurant Connection, an award it continues to enjoy today.

The Wentworth also offers both Alpine and cross-country ski packages in the winter. In the summer, golf can be arranged at the 18-hole PGA Wentworth Golf Course located next to the inn. The Wentworth is an ideal locale for corporate retreats, offering over 3000 square feet of meeting space, full audio/ visual equipment and catering services. With its romantic settings and the historic Jackson Community Church across the street, The Wentworth frequently hosts wedding celebrations. The staff is experienced in planning wedding details, from the cake to the horse-drawn carriage. Parties up to 230 can be accommodated for special occasions.

The Wentworth was also selected as the first North American property to be affiliated with Swiss International Hotels, an affiliation held for many years. Additionally, Fritz Koeppel was awarded the Innkeeper of the Year Award for 1995 for the State of New Hampshire.

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 13 www.hospitalityrealestate.com Wedding Business

The Wentworth is one of New Hampshire’s premier wedding and event destinations. The Wentworth’s 3200 square-foot event tent is a versatile venue that includes a solid wood dance floor platform, carpeting, hanging sheers, a generator, heaters and chandeliers. The tent is lined and is available seasonally (spring, summer and early fall). Year-round The Wentworth caters to small weddings of 80 or less in the South dining room.

For the fiscal year 2019, The Wentworth generated approximately $716,000 in total group sales as of September. Associated wedding and group event sales are projected to significantly increase in 2020, and June, July, August and September 2020 wedding weekends are already fully booked. Full sales details for booked weddings and events are available upon request.

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 14 www.hospitalityrealestate.com Dining Overview

The Wentworth features a main dining room as well as a lounge, plus seasonal outdoor seating. The Wentworth was the first hotel restaurant to receive the New Hampshire Farm to Restaurant designation; this program partners restaurants with local farms to provide locally sourced ingredients. The restaurant features high thread-count linens, quality flatware and china, glasses with fresh flowers on all the tables, and is one of the few establishments in the Mount Washington Valley that continues to maintain high standards for fine dining. The restaurant also utilizes the Aloha Point of Sale System and Open Table dining reservations.

Facility Size (SF) # of Seats Lounge 200 25 Main Dining Room 1200 105 Outdoor Deck 800 65 Porch 800 60

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 15 www.hospitalityrealestate.com Meeting Space Overview

The Wentworth’s premier meeting facilities total over approximately 4,160 square feet of indoor and seasonal outdoor space. The indoor meeting space makes up the minority of the total space available and is located within one, 960-square foot meeting room. In addition to the Main Meeting Room, The Porch, Outdoor Deck, and The Amster Cottage Lobby can be used as small breakout rooms.

THE PORCH The enclosed porch is used in conjunction with the lounge for cocktail receptions of up to 200 people. The porch leads to an outdoor deck, which offers panoramic views of the White Mountains.

THE SOUTH ROOM The recently renovated main meeting room at the Wentworth includes central air and heat, access to modern AV equipment and is flexible in its setup to accomodate classroom-style, U-shaped or theatre-style seating.

THE CENTER/NORTH ROOMS (THE DINING ROOMS) These rooms overlook an outdoor wraparound porch with a gallery of Facility Size (SF) # of Meeting Attendees hanging plants in the summer and ice sculptures in the winter. The Porch 800 30 THE EVENT TENT The South Room 960 50 The Wentworth’s 3200 square-foot event tent is a versatile venue The North Room 667 50 that includes a solid wood floor platform, carpeting, hanging sheers, The Center Room 510 35 a generator, heaters, and chandeliers. The tent has a sheer lining and is The Event Tent 3200 230 available seasonally (spring, summer, and early fall).

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 16 www.hospitalityrealestate.com Capital Improvements

Since 1991, ownership has continued a very aggressive business model that was developed with a strategic plan to improve the property. Goals were established and at this point $12 million has been invested in capital improvments, culminating in many recent significant investments including an elevator in the main inn at a cost in excess of $200,000.*

*A detailed and itemized list of capital improvements are available upon request.

Capital 2019 2018 2017 2016 2015 2014 2013 Expenditure Summary Total $229,604 $428,808 $354,565 $450,513 $306,834 $341,628 $588,134

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 17 www.hospitalityrealestate.com Wentworth Value Enhancement Opportunities

Many capital improvement projects have been completed at The Wentworth in the last two to three years, including the installation of an elevator in 2018 that services the Main Inn and the Thornycroft Cottage. However, there is still room for ADR increases through renovations and redevelopment of an existing two- story building. Space also exists to construct a year-round wedding barn or special event venue. Refurbishments and upgrades would push occupancy and income towards the higher end of the market average.

ADDITIONAL EXPANSION/ENHANCEMENT OPTIONS:

• Refurbish the existing (unused) Wildwood Cottage to create four new guest suites.

• Build a premier event facility or wedding barn to offer year-round wedding and special event bookings.

• Expand the current bar/lounge and porch to offer additional capacity and restaurant options.

• Refurbish the bathrooms in the existing Amster cottage.

• Pursue a more aggressive approach to the condominium rental program by actively seeking new owners to join the rental pool.

• Purchase new condominiums as they become available.

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 18 www.hospitalityrealestate.com Staffing Detail

The Wentworth has continued to attract and sustain high-quality and well-educated staff with proven longevity and loyalty. There are 7 on-site staff rooms; 4 with mini kitchens and private bathrooms and 3 with shared bathrooms.

KEY STAFF AND SALARY RANGE

Executive Chef $90,000 to $95,000

Front Desk Manager $45,000 to $50,000

Hotel Manager $90,000 to $95,000

Dining Room Manager $40,000 to $50,000 Maintenance Supervisor $35,000 to $40,000 Housekeeping Supervisor $42,000 to $46,000 Director of Sales $65,000 to $70,000

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 19 www.hospitalityrealestate.com “I think what sets the valley apart are the people that choose to call this beautiful place home. There is a love for this region by locals and visitors alike who cherish the beauty of the mountains, just as the first visitors did who were lured here by the White Mountains School of Art artists beginning in the 1830s.”

- Tom Eastman, award-winning journalist and longtime Mount Washington Valley resident

One New Hampshire Ave, Suite 125 LOCATION OVERVIEW Portsmouth, NH 03801 W!Wason AssociatesTelephone: 603.766.4982 THE WENTWORTH | JACKSON, NH20 www.hospitalityrealestate.com Jackson, New Hampshire

Jackson, New Hampshire, often referred to as the Jewel of the White Mountains, is a classic New England village and tourist destination that borders 750,000 acres of the White Mountain National Forest, offering spectacular natural beauty and four-season recreation. Primary access to the town is made from the south via Route 16, with access into Jackson made via a covered bridge, nicknamed the “Honeymoon Bridge” because of its longstanding romantic tradition as a backdrop for newlywed photographs. These pictures, most often taken with the couple exchanging a kiss, are usually snapped with the bridge in the background or with the couple in the middle of the bridge.

The area is popular with artists, photographers and collectors who come from all over the world to the historic village to create, exhibit, sell and acquire art. Nearby the center of town, the beautifully curated Museum of White Mountain Art features 19th century White Mountain landscape paintings from private collections on display for public enjoyment.

Jackson, in the heart of the White Mountains, is the perfect spot for a leisurely spring or summer vacation, fall foliage trip, or snowy winter getaway. The Wentworth Golf Club is adjacent to The Wentworth and the Eagle Mountain Golf Course is less than a mile away. The majority of commercial development is focal to The Wentworth Golf Club and the Route 16A loop. The scenic Jackson Falls, created by the rushing waters of the Wildcat River, is within walking distance of The Wentworth and features many small pools and waterfalls to explore. Black Mountain Resort ski area is located in Jackson, less than two miles northeast of The Wentworth. The Jackson Ski Touring Foundation (Jackson XC), located within The Wentworth Golf Club in the winter, maintains 150 km of cross-country ski trails and is the largest Nordic ski area east of the Rocky Mountains.

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 21 www.hospitalityrealestate.com Mount Washington Valley Attractions

Jackson is located in the Mount Washington Valley, one of the most vibrant resort areas in New England. Everywhere you go throughout the Valley—in any season—you will find exciting events, diverse local arts, unique products, festivals, and other activities. History and charm abound in this quintessential New England community.

Mount Washington N. Conway Outlet Shopping Story Land

Saco River White Mountain National Forest Mount Washington Cog Railway

Conway Scenic Railroad Santa’s Village Echo Lake State Park

Waterfalls Golf Covered Bridges

Links can be found on page 38

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 22 www.hospitalityrealestate.com Winter Activities and Events

Skiing is the official state sport of New Hampshire, and Jackson is a mountain town in the heart of New Hampshire’s ski country. With several unique downhill resorts nearby, plus an abundance of Nordic trails, Jackson is a favorite home base for ski enthusiasts.

NEARBY SKI AREAS

• Jackson Ski Touring Foundation Nordic Ski Area • Black Mountain Ski Area • Attitash Mountain Resort / Bear Peak • Cranmore Mountain Resort • Wildcat Ski Area • Bear Notch Ski Touring Center The Wentworth features an on-site ice skating rink and an outdoor fire pit, and nearby winter attractions include unique experiences like sleigh rides, snow biking, snowshoeing and ice sculpting.

WINTER EVENTS IN JACKSON AND THE MOUNT WASHINGTON VALLEY

The Wentworth’s Annual Ice Bar The Wentworth’s Annual Ice Carving Competition

Journey to the North Pole Train Rides Annual Jingle Bell Chocolate Tour

Festival of Lights at Settlers Green Cranapalooza at Cranmore Mountain Resort

Annual NH Sanctioned & Jackson Invitational Annual Inn to Inn Cookie Tour Snow Sculpting Competition in Jackson Village

Links can be found on page 38

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 23 www.hospitalityrealestate.com Spring Activities and Events

Jackson comes alive in the spring as the snow melts, the fishing and biking season begins and the air turns sweet during New Hampshire’s maple sugaring season.

Ready to cast that line? There’s nothing better than spending a beautiful spring day on a riverbank, relaxing in nature, and maybe even catching your supper while you’re at it. The lakes, streams and backcountry ponds of the Mount Washington Valley are ideal for anglers.

As the snow melts and the rivers rage, Mount Washington Valley’s waterfalls turn into roaring, glorious cascades. Spring is the perfect time to visit nearby Jackson Falls and Glen Ellis Falls.

SPRING EVENTS IN JACKSON AND THE MOUNT WASHINGTON VALLEY

Wildquack Duck Race and Music Festival Annual Home Garden Flower Show at the Fryeburg Fairgrounds

Ride to the Sky at Mt Washington Auto Road Mount Washington Auto Road Race

Road to the Links Conway Scenic Railroad Opens

Links can be found on page 38

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 24 www.hospitalityrealestate.com Summer Activities and Events

Take a dip in the pristine Echo Lake or canoe, tube or kayak through the meandering Saco River. Sunbathe by one of Jackson’s beautiful streams or take a white-water rafting trip down one of the nearby rivers.

Love to hike? The Mount Washington Valley is surrounded by 800,000 acres of the White Mountain National Forest. Go “Into The Forest” to discover your next amazing outdoor adventure.

Story Land is one of the most cherished summer attractions in the Mount Washington Valley. Named “New Hampshire’s Best Children’s Amusement Park,” Story Land features rides, shows, and attractions set among 35 acres.

Jackson and the Mount Washington Valley offer a variety of golf courses to choose from, including The Wentworth Golf Club next door, or one the many local golf courses on the eastern flanks of NH’s Presidential Mountain Range.

SUMMER EVENTS IN JACKSON AND THE MOUNT WASHINGTON VALLEY

5th Annual North Conway Strawberry Festival Fourth of July Fireworks in Jackson Village Park

Day out with Day out with Thomas™ at Conway Scenic RR Annual Blueberry Festival at Attitash Mountain Resort

Jackson Covered Bridge Dance Mt. Washington Valley August Craft Fair

Links can be found on page 38

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 25 www.hospitalityrealestate.com Fall Activities and Events

Autumn in the mountains is a spectacular sight. Yankee Magazine rated Jackson as one of the top 25 fall foliage towns in New England with neighboring North Conway making the list as well.

Into its 36th year, Jackson’s quirky, unique and hilarious “Return of the Pumpkin People” make October one of the best times to visit the village. This fall celebration features area businesses and residents going beyond the jack-o-lantern, creating pumpkin characters based on popular culture, literature and seasonal themes.

Conway Scenic Railroad offers a variety of foliage train rides, including a special “Pumpkin Patch Express” that travels to a field of pumpkins where every child gets to pick one.

Visit all 58 of the covered bridges in the White Mountains, including the famous Honeymoon Bridge in Jackson Village, which makes an ideal location for autumn picture-taking.

FALL EVENTS IN JACKSON AND THE MOUNT WASHINGTON VALLEY

Ghoullog at Cranmore Mountain Sherman Corn Maze

All Things Pumpkin Festival at Nestlenook Farm Fryeburg Fair

Muster in the Mountains at the Mount Washington Auto Road Oktoberfest at Attitash Mountain Resort

Kancamagus Highway Mud Bowl Parade

Links can be found on page 38

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 26 www.hospitalityrealestate.com One New Hampshire Ave, Suite 125 MARKET OVERVIEW Portsmouth, NH 03801 W!Wason AssociatesTelephone: 603.766.4982 THE WENTWORTH | JACKSON, NH27 www.hospitalityrealestate.com In the Area

MAJOR TRAFFIC STRATEGIC DRIVE-TO LOCATION FROM Jackson is easily reached by car from major Northeast cities in the United THE GREATER BOSTON REGION States and Canada. Bus services are available into Jackson Village and North The Wentworth is well-positioned less than a 3-hour drive from Boston Conway. The Wentworth is also only 1-1/2 hours from Portland International via I-95 and Route 16. Jetport (ME), 2-1/4 hours from Manchester Airport (NH), or 3 hours from Boston/Logan (MA). Private planes can fly into Libby Field, Gorham (NH), HEALTHCARE 1/2 hour away, or Fryeburg Airport (ME), 45 minutes away. Memorial Hospital, part of the MaineHealth system, is Mount Washington Valley’s most complete healthcare facility, offering primary care, a lab, APPROXIMATE DRIVING TIMES FROM MAJOR imaging, birthing and outpatient practices. Located in North Conway, NORTHEAST CITIES Memorial Hospital is approximately 8 miles south of Jackson.

In addition, there are several community urgent care centers in the area to City Miles Driving Time address minor problems that need immediate attention. Portland, ME 70 1.5 hrs Manchester, NH 100 2 hrs Boston, MA 130 3 hrs EDUCATION Elementary education is available locally in Jackson; middle-grade students Hartford, CT 225 4.5 hrs are bused to Bartlett, and high school students attend the newly constructed, New York City 325 6 hrs highly ranked Kennett High School in North Conway. Washington, DC 550 10 hrs Higher education is available at the Community College of New Hampshire, Montreal, Que. 215 4 hrs White Mountains Campus, about 8 miles away. In addition, Granite State Sherbrooke, Que. 150 3 hrs College is approximately 13 miles away in Conway.

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 28 www.hospitalityrealestate.com Local Competitive Landscape

Hotel/Location Year Opened # of Rooms

Wentworth Inn 1869-1920 61 1 Carter Notch Rd, Jackson NH Eagle Mountain House 1916 96 179 Carter Notch Rd, Jackson NH Christmas Farm Inn 1778 41 3 Blitzen Way, Jackson NH White Mountain Hotel 1990 80 Hale’s Location 87 Fairway Drive North Conway, NH North Conway Grand Hotel 1988 200 72 Common Court North Conway, NH Red Jacket Mountain View Resort 1971 164 & Water Park 2251 White Mountain Highway North Conway, NH Marriott Residence Inn 2009 108 1801 White Mountain Highway North Conway, NH

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 29 www.hospitalityrealestate.com Disclaimers

This Offering was prepared by Wason Associates based on information supplied by Owner. It contains select information about the Property and the real estate market but does not contain all the information necessary to evaluate the acquisition of the Property. The financial contained herein (or in any other Evaluation Material, including any electronic files) are for general reference only though taken from Tax Returns and other financial reporting methods.

While the information contained in this Offering and any other Evaluation Material is believed to be reliable, neither Wason Associates nor Owner guarantees, represents or warrants its accuracy or completeness. Because of the foregoing and since the Property is being offered on an “As Is, Where Is” basis, a prospective investor or other party authorized by the prospective investor to use such material solely to facilitate the prospective investor’s investigation, must make its independent investigations, projections and conclusions regarding the acquisition of the Property without reliance on this Offering or any other Evaluation Material. Although additional Evaluation Material, which may include Federal Tax Returns, Rooms and New Hampshire rooms and Meals tax Forms, engineering, environmental or other reports, may be provided to qualified parties as the marketing period proceeds, this Evaluation Material is also being provided without guarantee, representation, or warranty, and prospective investors should seek advice from their own attorneys, accountants, engineers environmental experts, and any other party or parties deemed appropriate by prospective investors in evaluating the Property.

Owner expressly reserves the right, in its sole discretion, to reject any offer to purchase the Property or to terminate any negotiations with any party at any time with or without written notice. Owner shall have no legal commitment or obligations to any prospective investor unless and until a purchase and sale agreement has been fully executed, delivered and approved by Owner and any conditions to Owner’s obligations there under have been satisfied or waived. Owner has retained Wason Associates as its exclusive broker and will be responsible for any commission due to Wason Associates in connection with a transaction of the Property pursuant to a separate agreement. Neither Wason Associates or any other person or party is authorized to make any representation or agreement on behalf of Owner. Each prospective investor will be responsible for any claims for commissions by any other broker in connection with a sale of the Property if such claims arise from acts of such prospective investor or its broker. This Offering is the property of Owner and Wason Associates and may be used only by parties approved by Owner or Wason Associates. No portion of this Offering may be copied or otherwise reproduced or disclosed to anyone except as permitted under the Confidentiality Agreement.

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 30 www.hospitalityrealestate.com Team Leadership

Earle Wason, CCIM Earle Wason has more than 30 years of experience in the commercial real estate Cell: 603-498-1899 industry. He maintains excellent relationships with the fastest growing hotel companies [email protected] in the Northeast and other commercial real estate and hotel brokers in New England. As a Certified Commercial Investment Member (CCIM), Earle has held positions as the president of the New England CCIM Chapter and New Hampshire Commercial and Investment Division of the NH Association of Realtors.

Peter Annon, CPA, RFC Peter Annon has more than 30 years of experience as a certified public accountant Cell: 603-848-0456 (CPA), Registered Financial Consultant, and is a licensed real estate salesperson. Home Office: 603-223-0320 He has provided his services to business owners, real estate developers, management [email protected] companies, and hospitality firms throughout New England. Peter is also a member of the American Institute of Certified Public Accountants (AICPA).

Joe Cardillo, Broker Joe Cardillo has a diverse business background that encompasses sales, management, Cell: 603-520-5001 finance, ownership experience, and expertise in the retail and hospitality industry. He Home Office: 603-526-5949 is a graduate of the University of Albany in New York where he earned a Bachelor of [email protected] Science in marketing and business administration. Joe has also served several terms in various government positions where he acquired experience in zoning and planning issues that often relate to real estate development.

Jim Doucette, Broker Jim Doucette has worked as a licensed real estate broker in Maine and New Hampshire Cell: 603-986-6555 for over 30 years. Transactions have included a broad range of properties – from [email protected] larger acreages, challenging 1031 exchange transactions, and hospitality sales. His experience in governmental positions, such as planning and zoning boards as well as local land trusts benefits his clients in development, redevelopment, and properties with large amounts of acreage.

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 31 www.hospitalityrealestate.com Links

DETAILED MAP (PAGE 10) Wildcat Mountain https://www.skiwildcat.com/ Attitash Mountain Resort https://www.attitash.com/ SPRING ACTIVITIES AND EVENTS (PAGE 23) Black Mountain Ski Area https://www.blackmt.com/ Annual Home Garden Flower Show at the Fryeburg Fairgrounds https://www.homegardenflowershow.com/ Cranmore Mountain Resort https://www.cranmore.com/ Conway Scenic Railroad Opens https://www.conwayscenic.com/ Living Shores Aquarium https://www.livingshores.com/ Glen Ellis Falls http://www.newenglandwaterfalls.com/nh-glenellisfalls.html Mount Washington https://www.nhstateparks.org/visit/state-parks/mt-washington-state-park Jackson Falls http://www.newenglandwaterfalls.com/nh-jacksonfalls.html North Conway Village http://www.northconwayvillage.net/ Mount Washington Auto Road Race https://mtwashingtonautoroad.com/mount-washington-road-race Wildcat Mountain https://www.skiwildcat.com/ Ride to the Sky at Mt Washington Auto Road https://laconiamcweek.com/event/ride-to-the-sky/ Saco River http://www.sacobound.com/ Road to the Links https://mtwashingtonvalley.org/golf/golf-map.cfm Settlers Green Outlet Shopping https://www.settlersgreen.com/ Wildquack Duck Race and Music Festival https://jacksonnh.com/event/wildquack-duck-race-music- Story Land https://www.storylandnh.com/ festival/ MOUNT WASHINTON VALLEY ATTRACTIONS (PAGE 21) SUMMER ACTIVITIES AND EVENTS (PAGE 24) Conway Scenic Railroad https://www.conwayscenic.com/ Annual Blueberry Festival at Attitash Mountain Resort https://www.attitash.com/event/blueberryfest/ Covered Bridges https://www.visit-newhampshire.com/state/covered-bridges/ Day out with Day out with Thomas™ at Conway Scenic RR https://thomastrainride.com/day-out-with- Echo Lake State Park https://www.nhstateparks.org/visit/state-parks/echo-lakes-state-park thomas-2019-north-conway.html Golf https://mtwashingtonvalley.org/events/GolfAdventures.cfm Echo Lake State Park https://www.nhstateparks.org/visit/state-parks/echo-lakes-state-park Mount Washington https://www.nhstateparks.org/visit/state-parks/mt-washington-state-park Fourth of July Fireworks in Jackson Village Park https://www.visitwhitemountains.com/blog/fourth-of-july- Mount Washington Cog Railway https://www.thecog.com/ in-the-white-mountains North Conway Outlet Shopping https://www.settlersgreen.com/ Jackson Covered Bridge Dance https://www.jackson-nh.org/home/events/23943 Santa’s Village https://www.santasvillage.com/ Mount Washington Valley August Craft Fairhttps://www.joycescraftshows.com/schedule.html Saco River http://www.sacobound.com/ North Conway Strawberry Festival https://www.visitnh.gov/things-to-do/event-calendar/mt-washington- Story Land https://www.storylandnh.com/ valley-strawberry-festival Waterfalls http://www.newenglandwaterfalls.com/newhampshire.php Story Land https://www.storylandnh.com/ White Mountain National Forest https://www.fs.usda.gov/whitemountain/ Wentworth Golf Club https://www.wentworthgolf.com/ WINTER ACTIVITIES AND EVENTS (PAGE 22) White Water Raftinghttps://www.visit-newhampshire.com/state/whitewater-rafting/ Annual NH Sanctioned & Jackson Invitational Snow Sculpting Competition in Jackson Village FALL ACTIVITES AND EVENTS (PAGE 25) https://jacksonnh.com/event/snow-sculpting-competition/ All Things Pumpkin Festival at Nestlenook Farmhttps://jacksonnh.com/event/all-things-pumpkin-festival/ Annual Jingle Bell Chocolate Tour https://jacksonnh.com/event/jingle-bell-chocolate-tour-3/ Conway Scenic Railroad https://www.conwayscenic.com/ Annual Inn to Inn Cookie Tour https://www.countryinnsinthewhitemountains.com/annual-holiday-inn-to-inn- Fryeburg Fair https://www.fryeburgfair.org/ cookie-tour/ Ghoullog at Cranmore Mountain https://theghoullog.com/ Attitash Mountain Resort https://www.attitash.com/ Kancamagus Highway http://www.kancamagushighway.com/ Black Mountain Ski Area https://www.blackmt.com/ Muster in the Mountains at the Mount Washington Auto Road https://mtwashingtonautoroad.com/events/ Cranapalooza at Cranmore Mountain Resort https://www.cranmore.com/The-Mountain/Mountain-Events/ muster-in-the-mountains Cranapalooza-Fireworks Mud Bowl https://www.northconwaycommunitycenter.org/mud-bowl Cranmore Mountain Resort https://www.cranmore.com/ Oktoberfest at Attitash Mountain Resort https://www.attitash.com/event/oktoberfest/ Festival of Lights at Settlers Green https://www.settlersgreen.com/events Return of the Pumpkin People https://jacksonnh.com/event/return-of-the-pumpkin-people/ Jackson Ski Touring Foundation Nordic Ski Area https://www.jacksonxc.org/ Sherman Corn Maze http://shermanfarmnh.com/corn-maize/ Journey to the North Pole Train Rides http://www.journeytothenorthpole.org/tickets.html

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982 32 www.hospitalityrealestate.com One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 Telephone: 603.766.4982

One New Hampshire Ave, Suite 125 Portsmouth, NH 03801 www.hospitalityrealestate.com W!WasonTelephone: Associates 603.766.4982 33 www.hospitalityrealestate.com