NEW LONDON, CT.— The historic Lighthouse Inn, a 99-year-old, 52-unit property here, has been acquired by McGrath Hotels. Owner and president Jim McGrath stated the company expects to invest more than $1 million to restore the property, a member of Historic Hotels of America. Renovations currently are under way to upgrade amenities and are slated for completion at the end of fourth quarter. The historic design and decor of the property will be retained. Connecticut-based Thomas H. Hamm & Co. and New York-based Matryx Services International, LLC teamed to provide $1.8 million in financing for the property.
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