EJC HOTELS, LLC, a recently formed N.Y.-based hotel/resort property ownership and management group, today announced its first joint acquisition, the former Newark Garden Finger Lakes Hotel – Newark NY. 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 will be added to the property which will have their own entrance with private elevator access. 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.David Eckert
The hotel is located along the Erie Canal in upstate Newark, N.Y., approximately 25 minutes to Del Lago Casino and just 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, updated, modern event space and other upgrades that will elevate this hotel.
EJC HOTELS will manage the hotel under the leadership of the founder / CEO Ernie Catanzaro, a 30-plus year hospitality industry veteran with experience in virtually all brands and independent hotels, with deep market insights across the nation. Most recently, he was executive vice-president with a corporation where he presided over 56 hotels with more than 3,000 employees nationwide.
We are in a terrific position to set up the Newark, NY Erie Canal Hotel for long-term success. 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 sustain in the off-season periods. 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,” Catanzaro noted. “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.Ernie Catanzaro
About David Eckert
As current CEO of Empire State Regional Center, Dave is responsible for securing Foreign Investment Capital, working in conjunction with the United States Government to secure financing for the Healthcare and Hospitality markets in New York, New Jersey, Pennsylvania, Connecticut and Massachusetts. David has extensive background in Investment Banking and Private Placements, and as a former Securities Broker and partner in Leardon Daly Brown and Associates, David successfully negotiated many mergers and capital funding during his years on Wall Street. David is a graduate of SUNY Geneseo and the Rochester Institute of Technology, with degrees in Business Administration, Economics, and Engineering.
About EJC HOTELS
EJC HOTELS, LLC is a New York based hotel group a with their main forte of hotel and asset management founded by well-known and respected hotelier Ernie J. Catanzaro. The company pursues a variety of transactions, including direct investment value-add renovations. Catanzaro targets U.S. properties that are struggling and aggressively turns them profitable. The company’s entrepreneurial, transparent, proactive senior leadership team delivers high performance results to manage branded or independent full-service hotels, resorts, select-service, extended-stay and mid-scale hotel brands at coast-to-coast locations. Visit www.ejchotels.com.