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TRAVERSE CITY, MICH. — The Greenwich Hospitality Group (GHG) has acquired West Bay Beach Holiday Inn Resort in Traverse City for $23.2 million. The 179-room, full-service resort, originally built in 1968, is located on the West Bay. The hotel will be elevated to a four-star property and rebranded as Delamar Traverse City after undergoing a $10 million renovation over a two-year period. The hotel will remain open during the renovation. Delamar is the flagship brand of GHG. The hotel last changed hands in 2012, when Birmingham, Mich.-based private equity firm ValStone Partners LLC purchased it from TC Hotel LLC, according to the Traverse City Record Eagle.