The Hamister Group Inc. closed on the purchase of the Ramada Jamestown Hotel today as the company looks to expand their hospitality footprint in Western New York.
The Ramada will close immediately as the company spends the next several months on plans to re-position the property with a multi-million dollar renovation.
"Owning and operating a hotel in Jamestown fits perfectly into our growth strategy in Western New York. Based on its size, location and space for additional amenities, we feel that this property is a positive investment considering the continued growth throughout our region," said Daniel M. Hamister, Hamister Group senior vice president of business development. "We are committed to this project and look forward to positive working relationships with the city of Jamestown and the entire community."
The company intends to announce more specific plans for the hotel within 60 to 90 days. The Hamister Group currently has two other hotel projects in Western New York. The Tishman Building in downtown Buffalo is undergoing a $40 million rehabilitation and upon completion in October 2014, will be a 124-room Hilton Garden Inn, market-rate apartments and 18,000 square feet of office space. The company also plans to break ground on a $25 million, 114-room upscale hotel and market-rate apartments in Niagara Falls in the second half of 2014.
The Hamister Group is headquartered in Williamsville and employs nearly 700 people in the Northeastern United States. For additional information, please visit www.hamistergroup.com.