NEWARK, NEW YORK—EJC HOTELS, LLC, a recently formed New York-based hotel/resort property ownership and management group, announced its first joint acquisition, the former Newark Garden Finger Lakes Hotel in Newark, New York. Upon completion of the transaction, the hotel ceased operations to begin an approximately $10 million redevelopment of the site to completely reconceive the interior, exterior, and identity of the project. The company is in discussions with major brands to reflag the property. One of the brands being considered is Trademark Collection by Wyndham. In addition, approximately 40 new upscale apartments, which will have their own entrance with private elevator access, will be added to the property. EJC HOTELS is partnering alongside David Eckert who heads up a group of EB-5 capital investors.
“EJC HOTELS already has proven to be a fantastic partner throughout the acquisition process,” Eckert said. “In the short time they have been involved with this potential asset, they have assisted us with bringing this deal to reality. It is a pleasure to work with a group as passionate and capable as EJC HOTELS. We have identified several other sites and will be working closely with EJC HOTELS in the upcoming months on acquiring and converting existing struggling hotels to hybrid hotel/apartments.”
The hotel is located along the Erie Canal in upstate Newark, New York, approximately 25 minutes to Del Lago Casino and 30 miles from Rochester. The renovation will include interior and exterior enhancements, as well as new features such as a rooftop bar overlooking the Erie Canal, a large boat with dinner cruises offered, and an updated, modern event space.
EJC HOTELS will manage the hotel under the leadership of Founder/CEO Ernie Catanzaro, a 30-plus-year hospitality industry veteran with experience in virtually all brands and independent hotels. Most recently, he was executive vice president with a corporation where he presided over 56 hotels with more than 3,000 employees nationwide.
“This hybrid hotel/apartment project gives us a blank canvas to create a unique experience and provide stability from the apartments to assist the hotel [in sustaining] in the off-season periods,” Catanzaro noted. “Our goal is to create a truly remarkable experience for our employees and guests, from the time they check in to the time they check out. We want people to feel welcomed and taken care of in clean, modern, inviting spaces. This Newark hotel will be a test case in how we plan to operate all our future hotels.”