BELFOR CEO Yellen buys Townsend Hotel
By Lisa Brody
BELFOR USA Chief Executive Officer Sheldon Yellen of Bloomfield Hills has purchased the iconic Townsend Hotel in Birmingham.
According to sources, once licenses are approved and transferred from an investor group led by managing partner David Sillman of Birmingham, the sale will be final. The Townsend will remain a hotel, located at 100 Townsend Street.
Numerous sources confirmed the purchase to Downtown Newsmagazine. Yellen did not return calls and emails as to purchase price or whether staff will be retained, or if a hotel management operator will be brought in.
The Townsend is a boutique hotel located in the heart of the walkable upscale community of Birmingham. Since opening in 1988, it has become renown for its exceptional service and amenities, including an award-winning upscale contemporary restaurant, Rugby Grille, a charming classic afternoon tea, and a variety of catering and wedding services, as well as luxe accommodations.
According to BELFOR's website, “Yellen has built himself a robust reputation for his unconventional management style. As CEO of BELFOR Holdings, Inc. – a $2 billion entity which operates a number of companies including BELFOR Property Restoration, the global leader in damage restoration and recovery services – he carefully watches every penny spent yet doesn’t hesitate to hop on a private plane to visit a sick employee or customer. His rationale? BELFOR is his family.”
According to Crain's Detroit Business, BELFOR was sold to a private equity firm in 2019.
Yellen had purchased in 2011 the Tam-O-Shanter Country Club in West Bloomfield and he was featured in the Undercover Boss show on CBS in 2011.