Kingsmill Resort reportedly up for sale
WILLIAMSBURG -- Kingsmill Resort & Spa is up for sale, according to a report today in the Daily Press newspaper of Newport News.
The paper quoted officials with the James City County resort as saying yesterday that Busch Properties Inc., which owns Kingsmill, has hired a commercial real estate broker to explore options for the potential sale of the property.
The firm of CB Richard Ellis will provide sales transactions and assessment services to the resort, in addition to marketing the property and representing the company in negotiations with potential buyers.
When Belgium-based InBev purchased Anheuser-Busch last year, company executives made it known they wanted to sell off some of the assets, which included its theme parks and Kingsmill resort.
Kingsmill Executive Vice President Robin Carson notified residents via e-mail Monday about the resort's decision to hire a broker to facilitate a potential sale. She said the company had only just begun the process of looking for a new owner.
"Our intention is to sell the property if appropriate terms can be met," Carson wrote. "Our goal in this process is to find a buyer who will enhance long-term value and maintain Kingsmill assets in accordance with a premier resort property while also recognizing the crucial role our employees play in making this resort so exceptional."
The announcement comes more than a week after Anheuser-Busch InBev decided against renewing its sponsorship of the Michelob Ultra LPGA tournament at Kingsmill.
Carson said each decision was separate from the other.
-- McClatchy-Tribune Information Services
Reader Reactions
Face it Kingsmill is now something of the PAST…sort of what happened to Brandenmill…it has lost its standing! I hope ccpsteacher’s grandma gets a discount on her “premium” expense to live in her gated community now!
People, know your facts. Kingsmill, the neighborhood/gated community, is not for sale. The resort (restaurant, bar, hotel) that is on the property is for sale. And yes, and American company could buy it.
Also, comparing Kingsmill to a sweatshop is hilarious… I hope that was intended as a joke. There are gated communities all over America, none of which were modeled after neighborhoods in third world countries. My 72 year old mother lives in Kingsmill; she feels safe there, so if she’s willing to pay the premium homeowner’s dues, what’s the problem? Again, the neighborhood is not for sale.
At any rate I don’t see why an American firm couldn’t buy this property. Who knows, maybe it can become another Trump property.
legal american- gated communities like kingsmill were invented in the third world to protect residents from crime. they are as american as sweatshops.
This is just the beginning….more and more American companies will sell-out and we will lose even more of “AMERICANA” as we know it everything is going across the ocean- we can all gather at Jamestown…AND WAVE GOODBYE!
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