The sale of the Baymont Hotel, the RV campgrounds, as well as the Off-Shore Restaurant and Events Centre on the north edge of Bellevue is pending, according to developer A.J. Spiegel. He built, owned and operated the unique riverfront businesses for more than a decade.
Spiegel told the Herald-Leader in a recent phone call that this is “exciting news for Bellevue,” and that the future owners “have a wealth of successful experience running similar businesses and resorts.”
Spiegel said the new owners are “a group of five entrepreneurs who plan to expand the offerings of the business.”
He said they are the same group of investors who own and operate the Dubuque Marina and Coconut Cove Resort in Wisconsin, including Steve Launspach, A.J. Becker, Ryan Becker and Pete Ludwig as well as Jason Germaine of Germaine Electric.
While the hotel, events center and campgrounds have remained in operation since 2013, Spiegel closed the restaurant last summer due to difficulty finding employees and difficultly getting regular customers.
“The new owners will change all that,” according to Spiegel, who said that with all his other business ventures, he just didn’t have the time to grow the business properly. “I was just one person, and now there will be five people overseeing and working the operation.”
Spiegel said the future owners plan to expand the RV park, as that has been a solid success. They will also add other amenities and offerings, but he said he didn’t want to say too much about the plans until the deal is done.
“All the paperwork isn’t quite done yet, but when it is, the folks in Bellevue should know that it is going to be a great thing for the town,” he said.
Spiegel, who created MTM Corporation in Peosta, has invested more than $18 million in Bellevue projects over the past two decades, including the new hotel, restaurant, RV park and events center, as well as the condos on North Riverview, where the former Knights of Columbus Hall was once located.
“I hope the people of Bellevue will understand what it takes to create a business like this,” said Spiegel. “They should be really excited because these guys have what it takes.”