A New Hampshire-based hotel owner and operator plans a multimillion-dollar renovation at its first acquisition in Westchester County, the Mount Kisco Holiday Inn.
Roedel Companies L.L.C., of Wilton, N.H., paid $8.5 million for the 65,000-square-foot, 122-room hotel, according to brokers at HK Group in Westport, Conn. The seller was Florida-based Kisco Motel Associates Inc.
The sale was brokered by Matthew Keefe, president of HK Group, and David Lindland, the firm”™s senior vice president.
Roedel Companies partner David Roedel in a press release said the company plans to renovate all public spaces in the hotel at 1 Holiday Inn Drive, including the lobby, corridors and meeting and banquet rooms. The hotel restaurant, currently operated as Teddy”™s Restaurant, will be repositioned and rebranded, he said.
The hotel will remain open during the renovations, expected to begin in the first quarter of 2014.
ROK Builder, the hotel construction affiliate of Roedel Companies, will oversee the renovation, while RGH Hospitality, the company”™s hotel management subsidiary, will operate the hotel. Another New Hampshire company, RSJ Associates L.L.C., will direct interior design and procurement.
Roedel Companies owns and operates nationally branded select-service hotels throughout the eastern U.S., including the 111-room Hilton Garden Inn in Fishkill. The company this month announced it has an agreement to purchase Hotel Saranac, a historic Adirondacks institution in the village of Saranac Lake.
Roedel Companies is the successor to Chalet Susse International Inc., which was founded in 1967 by Fred B. Roedel.
Brokers at HG Group in a press release said the Mount Kisco sale shows that the hospitality market “has come a long way back from its low point of 2008-09.”
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