Canadian company Stinson Hospitality is closing the Adam's Mark hotel and reopening it as the Buffalo Grand Hotel.
Developer Harry Stinson made the decision to buy the hotel from Visions Hotels Inc. about a year ago. "It hasn't been the easiest deal to finance," says Stinson. He made a decision to buy the hotel after staying in it for a night, noticing how in need the hotel was of maintenance, surprised at how low the rates were for the size and the location of the building.
"I'm used to taking an old building that's a shell and having to go from nothing to putting it all together, but for this, the deal the moment was closed the next dollar over the counter, we're in business again," says Stinson. He's happy that the hotel is already functional, with staff and customers, unlike some of his other renovation projects.
The hotel acquisition cost about $15 million dollars. Small-scale renovations of some example hotel rooms will begin within the month. About half the floors will be closed at a time for rolling repairs.
Plans for the hotel include revamping the restaurant, adding old luxury like a doorman, leather furnishings and refurbishing meeting rooms.