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Iskalo Development Acquires the Lord Amherst Hotel in Amherst, New York
for $3.4 million; Emerald Hospitality Selected to Manage Operations

By Jonathan D. Epstein, The Buffalo News, N.Y.McClatchy-Tribune Regional News

Oct. 06, 2011--Iskalo Development Corp. said Thursday that it has completed its previously disclosed purchase of the Lord Amherst Hotel and Sonoma Grille restaurant properties in Amherst for $3.4 million, with both businesses continuing to operate as before.

Iskalo, through Iskalo 5000 Main LLC, bought the property from the Genrich family.

Iskalo said in a press release that the purchase will not affect the operations of either the Lord Amherst or Sonoma Grille. The developer hired Emerald Hospitality of Cleveland to run the hotel, and said all current reservations will be honored. Sonoma, which has operated under a long-term lease since 2003, will still be run by Michael R. Militello.

Iskalo and Emerald will also jointly evaluate the hotel's operations to develop a new strategic plan for the property, which opened at the same time as the completion of the nearby Youngmann Highway, which now funnels significant traffic through Amherst, Williamsville and Snyder. The 95-room two-story hotel was built in 1960 by the Genrich family.

"Mr. (J. Harold) Genrich had the foresight to see the hospitality potential of this location nearly 50 years ago, and its desirability has only increased as Main Street has developed," said Paul Iskalo, founder and CEO of Iskalo Development. "We're excited about the opportunity to help write the next chapter of the ongoing Lord Amherst Hotel story."

jepstein@buffnews.com

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(c)2011 The Buffalo News (Buffalo, N.Y.)

Visit The Buffalo News (Buffalo, N.Y.) at www.buffalonews.com

Distributed by MCT Information Services



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