Pocono Palace Resort has been sold for more than $17.8 million: Here's what's next

Pocono Palace Resort has closed after almost 50 years and sold for $17,866,000. The iconic hotspot for couples and honeymooners was widely famous for its heart-shaped tubs and Champagne tower whirlpool tubs.

On May 2, Pocono Palace Resort was sold as seven commercial parcels totaling 418.56 acres in Middle Smithfield Township to Raj Investments LLC.

According to a statement released by Cove Pocono Resorts , Pocono Palace Resort was "sold to a buyer who approached our ownership company."

Cove Haven Resort and Paradise Stream Resort remain open.

Previously: Pocono Palace Resort will be sold this spring, Cove Pocono announces

Chairperson Annette Atkinson of the Middle Smithfield Township Board of Supervisors said they've met with new owners on two occasions and were told they intend to have it remain a resort.

"The impression the new owners had of Pocono Palace was what everyone thinks it is… the honeymoon suite of the world with heart-shaped tubs and all… and that it appeals to a very narrow audience," Atkinson said.

Atkinson said the new owners expressed intentions to expand the audience and customer base for their resort to include business travelers and families or individual travelers.

"Businesses may want to have corporate retreats, they will be able to do that by adding a conference center," said Atkinson. "So they have a number of smart steps involved to maintain the business, renovate the rooms and then move on through their vision."

Raj Investments LLC released a statement confirming its acquisition of Pocono Palace and announced that the resort would continue to offer lakeside scenery and unique facilities, "including conference/meeting rooms, banquet halls and event spaces. We intend to make this resort very attractive as a luxurious destination for well-being by partnering with best-in-class institutions."

The new owners also said, "During this initial phase of renovation, business operations will continue in a limited fashion, and we aim to leverage local and diverse expertise and work with existing vendors."

Raj Investments LLC shares the same address as Worldwide Logistic Partners . The attorney representing Raj Investments, Charles Vogt, said in an email, "I can assure you that there will not be any warehouse on the resort property."

Atkinson said the new owners are now working with the township to see "what is possible out of the vision that they have and how best to go about it. They have all kinds of construction in mind and they want to know that they're allowed to do it."

Any next steps will need to go through the Middle Smithfield Township Planning Commission.

Maria Francis covers K-12 education and real estate, housing and development for the Pocono Record. Reach her at mfrancis@poconorecord.com .

This article originally appeared on Pocono Record: Pocono Palace Resort has been sold for more than $17.8 million: Here's what's next