The purchase price for the resort was not disclosed. The Alderbrook Inn, a fixture on the Kitsap Peninsula for nearly 90 years, boasts 78 rooms, cottages, a 10,000-sf conference center and meeting space, marina, restaurant and lounge and indoor pool.
Seattle-based Crista Ministries bought the property for $5.75 million in 1998. Crista Ministries also has sold the 18-hole golf course to the Alderbrook Golf and Yacht Club for $1.3 million.
Although North Forty Lodging purchased the property, it will be managed by MTM Management. MTM also operates the Sorrento Hotel in Seattle and the Woodmark Hotel in Kirkland.
The south shore of the Hood Canal is one of the most scenic and unique places in the Pacific Northwest," North Forty project manager Brian McGinnis said in announcing the deal. "We are very excited about this acquisition."
Unlike Crista Ministries, which runs radio stations, retirement centers and schools, the new owners plan to allow alcohol to be served and intend to launch into a large-scale redevelopment of the site. Work is expected to begin next fall. McGinnis said the resort, however, will be open to the public in the meantime.
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