Château Élan Winery and Resort has been sold for an undisclosed amount to a Connecticut-based real estate investment firm.
The sale of the Braselton resort to Wheelock Street Capital from Greenwich, Connecticut, was announced Friday. The seller was the original owner: Don Panoz, a pharmaceuticals entrepreneur who’s also an owner of a Braselton-based motorsports and electric vehicle company. Panoz and his wife, Nancy, founded the resort in Braselton more than three decades ago.
While the price isn’t being disclosed, the announcement states the investment group plans to spend $20 million on “a comprehensive renovation and refresh.”
A spokeswoman for the new ownership didn’t know when renovations would begin or end, but said the resort would remain open while work was ongoing.
Château Élan is also getting a change of management: HEI Hotels & Resorts, another Connecticut firm, will handle day-to-day operations of the metro Atlanta attraction. The resort’s golf club will be handled by Troon Golf, an Arizona-based golf management company.
Château Élan has 394 rooms, a spa, winery, golfing grounds and a clubhouse.
In the announcement, Panoz said he was pleased to hand the resort over to “capable national operators” who would “carry on our tradition of the subtle difference of excellence.”
Braselton Mayor Bill Orr said the town was “excited to support the new owners of Château Élan and we expect to frame a positive relationship with Wheelock Street Capital as we have enjoyed with Donald and Nancy Panoz.”