The CoCo Key Water Resort-Hotel & Convention Center in Waterbury, which opened with great fanfare in 2008, has been sold to a Long Island businessman, The Milwaukee Business Journal reports.
Tejinder Singh submitted a winning $4 million to $4.5 million bid for the property, which was put on the auction block earlier this year by its former Milwaukee-based owners.
Sage Hospitality purchased the 282-room hotel — the former Connecticut Grand Hotel and Conference Center — in 2007.
According to Auction.com, where the property was auctioned online, the hotel has an occupancy rate of 33 percent.
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The resort includes a 282-room hotel, 40,000 square feet of meeting space, plus the 55,000-square-foot water park.
