New book by Larry Connors Click here Improve your trading - See how
Tony Mangano and Carmen Emmi Jr., partners in Waterberry Lodging Co., Syracuse, closed the deal Thursday. Days Inn has been in receivership with its bank since July.
"It's a great property," Mr. Mangano said. "Since we've been in Watertown, we've been really impressed with the market."
The hotel will become a Comfort Inn & Suites after a complete renovation.
"The room layouts probably won't change," he said.
Days Inn has 25 suites and large rooms. Plans for the renovation will be created and approved by Choice Hotels, franchise owner of Comfort Inn, over the next few months.
Mr. Mangano said the renovations probably will cost about $1.6 million. He said the partners hoped to have the interior renovation work done in April and exterior work completed by Memorial Day.
The hotel will remain open during the renovation.
"The staff here is awesome," he said. "We want to build on that and give them something they can be proud to sell."
Mr. Mangano said the walkway to the neighboring Denny's will remain. That diner-style restaurant will be renovated and open in November, its new franchiser said this week.
"We're really excited to have the Denny's opening up again soon," Mr. Mangano said.
Management company Ocean Hospitalities Inc., Portsmouth, N.H., which was managing the hotel for the bank while the hotel was in receivership, will remain through the weekend.
Mr. Mangano and Mr. Emmi also own four hotels in Syracuse and a 300-acre vegetable farm.
To see more of the Watertown Daily Times, or to subscribe to the newspaper, go to http://www.watertowndailytimes.com. Copyright (c) 2009, Watertown Daily Times, N.Y. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
