Aug. 25–The owner of one of the area’s largest hotels has added one of the area’s oldest lodging establishments to its portfolio.
Corning-based Visions Hotels, which owns 486-room Adam’s Mark Hotel, bought the 199-room Holiday Inn on Niagara Falls Boulevard in Amherst for $4.5 million through Auction.com. The company is also the owner of the Comfort Suites Hotel downtown, which has 146 rooms, and an 80-room Hampton Inn in East Aurora.
“We are familiar with the Buffalo hotel market business with the other hotels we have in downtown and East Aurora,” Rakesh Patel, the company’s vice president of operations, said in an email. “Holiday Inn is a brand we are familiar with and a good franchisor.”
The hotel, built in 1967, employs about 70 people. It was acquired in 2011 by 1881 Niagara Falls Boulevard Holdings from WPH Amherst Associate, an affiliate of Hart Hotels Inc., for $10.5 million. Bidding, which ran from June 17 to 19, started at $1.375 million.
“Our plan for the Holiday Inn is to have it achieve high performance in all aspects — high employee and guest satisfaction, clean and well-maintained facilities, financial profitability,” Patel said.
Visions, which has 29 upstate hotels, plans to make upgrades and renovations to the property and also implement Holiday Inn’s recommendations from its review of the hotel.
“We are currently working with Holiday Inn on their product improvement plan, as well as reviewing what items we would like to make,” he said. “The goal is to make improvements towards improving guest satisfaction.”
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