Tuesday, January 12, 2010

New York developer announces deal for purchase of Nevele Hotel

This is GREAT NEWS on the heels of last weeks Hotel-Motel Occupancy Tax Report. After speaking with one of the principals in the project I am cautiously optimistic that this all may happen. Mr. Weiss had a realistic approach to the project and an understanding of what needs to be done to bring the property and its reputation back.

ELLENVILLE – Tricon Development of New York City Tuesday announced the Nevele Hotel in Ellenville is under contract for sale to the Nevele Holding LLC in conjunction with The Giluet Foundation.

Tricon head Raphael Weiss said the buyer’s intention is “to restore the hotel to its former glory including concierge and first rate service, complete renovations, entertainment and luxury for all guests.”

Ulster County Executive Michael Hein the deal is in its “preliminary states, but the county looks forward to working with anyone who looks to ultimately restore the Nevele to its glory and bring high quality jobs to the Ellenville area,” he said. “The county is looking forward to working to make sure that takes place.”

According to Tricon, the buyer intends to reach out to all those to whom money is owned from past operations as well as the unions about hiring their members.

Weiss anticipates several hundred jobs generated for operations, work for outside contractors, increase in sales tax receipts, payroll taxes and other municipal revenues and economic activity in the region from visitors due to business, leisure and convention activity.

“There will be no dependence upon the possibilities of gambling/horseracing or other expectations other than restoring the Nevele to its rightful position as one and only Class A resort,” he said. “Such will go a far way toward reviving the economic fortunes of the area and bringing back the golden age that the area so rightly deserves."
(Copyright © 2009 Mid-Hudson News Network, a division of Statewide News Network, Inc.)

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