December 04, 2015
The Golden Inn, a historic Avalon, Cape May County, landmark for more than 50 years, has been purchased by luxury hotel management company Icona Resorts.
Icona Resorts plans to renovate and rebuild the entire property by keeping the existing structure and redesigning the 155 rooms, the restaurant, pool and beach bar.
The investment in the hotel is the largest in Avalon and Cape May County’s histories, according to a spokesperson for Icona Resorts.
Eustace Mita, owner and founder of both Icona Resorts and development company Achristavest, explained that the company has been pursuing the acquisition of The Golden Inn for 15 years.
"Icona has the only beachfront hotel in Diamond Beach, and we wanted one in Cape May and one in Avalon," Mita told PhillyVoice. "We chose The Golden Inn because it is the largest beachfront hotel in Avalon. We believe the market has been understated in South Jersey for a five-star hotel experience."
Icona Resorts built and launched its Icona Diamond Beach two years ago. The resort has since become the No. 1 rated beachfront hotel in New Jersey on TripAdvisor. Icona plans to expand its luxury brand throughout Cape May County and beyond.
Mita's family has a history of hotel development in Avalon.
His grandfather, Philadelphia native James Eustace Wolfington, purchased Avalon's first beachfront hotel, The Puritan, in 1950, Mita said. He expanded the then-20-room hotel and renamed it The White Briar.
The renovations in Avalon, which will be handled by the resort's sister company, Achristavest, are expected to be completed by July of 2016 in time for the summer season.