New Ocean Place Owner Wants a 'World Class Hotel'

could look very different by next summer after a new ownership company took over the Long Branch hotel in February.

United Capital Corp has acquired the hotel and Chairman and President A.F. Petrocelli said the company has plans to improve and renovate the property.

"We are redoing all the rooms, the public area and we will be putting a new roof on the building," Petrocelli said this week. "Next season we will enlarge the restaurant, add a customer sitting area and improve the spa and make it much more luxurious."

"We want to make it a destination point and a world class hotel," Petrocelli continued.

He said the plan is also to make the entire building "green-certified," and make it as environmentally-friendly as possible.

The improvements will total $15 million, according to a release from United Capital Corp, which also owns and operates hotels in Florida, Connecticut, New York, Georgia and New Hampshire.

Petrocelli said all the improvements should be completed by the summer of next year.

Redevelopment plans for Ocean Place Resort & Spa were developed and submitted to the Long Branch Planning Board in the past, but the plans were put on hold after the previous owner .

Ocean Place Development LLC, the previous owners of the hotel, filed for Chapter 11 in  early 2011 to "put a restructuring plan together" for the hotel according to hotel General Manager Brian Czechowski.

A new management company Coakley & Williams Hotel Management Company, based out of Greenbelt, Md., and a new equity partner, Jeffrey Fernback, president of Fernmoor Homes of Jackson, were brought aboard in April to manage the hotel.

The result of the bankruptcy hearings awarded the mortgage for the property to United Capital Corp, according to Petrocelli.

"The judge approved our plan of reorganization," he said.

Petrocelli said he plans to meet with Long Branch Mayor Adam Schneider in the next two weeks to discuss the original redevelopment plans for the hotel.

"We want to do it with the city and with the city's approval," Petrocelli said. "We have to time it appropriately so it's financially feasible."