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Roedel Companies in Agreement to Purchase The Hotel Saranac

August 5, 2013

WILTON, NH – New Hampshire-based hotel owner/operators Roedel Companies have come to an agreement with the owner to purchase The Hotel Saranac in Saranac Lake, New York. Roedel Companies’ intent is to restore the property to its historic grandeur by renovating the Ballroom, lobby, 86 guestrooms and first floor retail space. Mayor Clyde Rabideau will present the historic redevelopment project at tonight’s Special Village Board Meeting located at Village Hall on Main Street.

Partner of Roedel Companies and President of ROK Builders, Fred B. Roedel III, explained that the Roedel family has strong ties to Saranac Lake dating back to the 1800s. “The Hotel Saranac is an important asset to the community,” stated Roedel. “Upon completion of the renovations, the hotel will drive vitality and economic stability to the area. The restoration of the property and Ballroom will allow the hotel to serve as the venue for special events and milestones.”

“This is terrific news for Saranac Lake,” Mayor Rabideau commented. “The intended renovation and restoration of the hotel will bring new vibrancy to our downtown, as the Hotel Saranac is the icon of the community and is downtown’s centerpiece.”

Roedel Companies owns and operates nationally branded hotels primarily in the select service segments throughout the Eastern United States. Roedel Companies’ growing portfolio includes nationally branded, select service hotels including Hilton Garden Inn, Hampton Inn & Suites, Holiday Inn Express & Suites and La Quinta Inn & Suites properties. The organization recently acquired a full service Holiday Inn in Mount Kisco, New York which will undergo a multi-million dollar renovation this fall.

ROK Builders, the hotel construction affiliate of Roedel Companies, LLC has 45 years of experience developing, constructing, managing and designing hotels for its own account and third parties. The organization’s new hotels and hotel renovation projects are designed to maximize revenue, control costs and ultimately deliver optimal free cash flow to owners and investors. ROK Builders’ expertise in the hotel construction business has earned a reputation for delivering well-designed and cost-efficient projects on time and on budget.

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