Montpelier’s Capitol Plaza Hotel and Conference Center changed hands this week, according to its previous owners.
Mary and Fred Bashara said they sold the hotel and the adjoining J. Morgan’s Steakhouse to a New England hotel management company on Thursday.
Jamsan Management, which is based in Lexington, Massachusetts, owns 60 hotels in the northeast, including the Delta Hotel and Duke Public House restaurant in South Burlington.
The Bashara family originally bought the property in 1993 after the hotel was damaged by a flood and went bankrupt.
“With the help of my family and our dedicated staff, the hotel developed (the damaged building) into a full-service facility that has hosted countless dignitaries, major statewide conferences, numerous local and national political campaigns, and hundreds of local and destination weddings,” Fred Bashara wrote in a statement to VTDigger.
According to the Bashara family, the new owners have committed to retaining the hotel’s current staff.
“Most important to us is Jamsan’s willingness to keep our exceptional staff so they can continue to have Capitol Plaza and J. Morgans be an integral part of Vermont’s capital city,” Fred Bashara said. “Many of our staff have been with us for several years and are a key reason for our customer service success.”
Representatives from Jamsan Management were not immediately available for comment on Friday.
In 2018, the Bashara family reached an agreement with the Hilton Corporation to build a Hampton Inn and new parking garage on the property, which the city of Montpelier supported. However, in 2020, a legal battle sparked by residents who opposed the project stalled and ultimately ended the development.
“We are both 83 years old and our children are approaching retirement age, so this feels like the right time,” Bashara said. “It truly has been a labor of love.”
