Fairfield Bay Community Club acquires Cobblestone Inn

The Fairfield Bay Community Club (FFBCC) announced its acquisition of the Cobblestone Inn & Suites, a hospitality property located in Fairfield Bay.

The purchase secures continued operation of the hotel and ensures the long-term viability of the Fairfield Bay Conference Center, officials said.

This strategic move comes after months of leasing the hotel to avoid its closure and a two- to three-year vacancy due to a pending foreclosure. When no buyer emerged, the club stepped in to purchase the property, including 22 acres of adjoining land, for $3.2 million, less than half of the hotel’s original $6.5 million construction cost.

“Our community faced a crossroads,” said David Byard, president of FFBCC. “We could let the Cobblestone close, which would have triggered the shutdown of the Conference Center and significantly damaged Fairfield Bay’s future, or we could seize this opportunity to stabilize and grow. We chose to invest in our future.”

Current pro forma projections suggest the hotel may generate a $100,000 profit in its first full year of ownership, Byard said.

With Wyndham’s exit from Fairfield Bay on Dec. 31, the Cobblestone will provide accommodations for conferences, serve as a destination for tourists, and support the local economy through increased traffic and visibility.

“Our upgraded amenities and growing slate of events make Fairfield Bay a destination once again,” Byard said. “Our marketing team has already achieved early success, and we have exciting plans for the coming year. The Cobblestone will be the front door to Fairfield Bay for many of our future residents.”

The club is also exploring development of the adjacent 22 acres, which could include a modern amphitheater for concerts and movie screenings.

“We would also like to thank DMC International and DeMarre Carroll for taking a chance on Fairfield Bay” Byard said. “If not for their investment, the Cobblestone Inn would have never been built.”

“This is a forward-looking investment,” Byard added. “While outcomes can never be guaranteed, we’ve acted in good faith with a sound business strategy aimed at growing Fairfield Bay and protecting our members’ interests.”