Roedel Companies purchases The Hotel Saranac for $5 million

New Hampshire-based hotel owner/operators Roedel Companies have purchased the Hotel Saranac located at 100 Main St. To assist in the overall plan to buy and renovate the multifaceted property, the State of New York awarded Roedel Companies with $5 million in state economic funding. Roedel Companies' intent is to restore the Hotel Saranac to its historic grandeur and reposition the property to meet the needs of today's travelers. The organization will renovate the hotel's interior including the lobby, banquet/restaurant space and potential first floor retail area. In addition, Roedel Companies will update 80 guest rooms. The project also includes the construction of a parking structure that will support the hotel. The Hotel Saranac will remain closed during construction and they expect to reopen in 2015. As the developer, Roedel Companies is utilizing its subsidiary companies to complete the renovations and manage the Hotel Saranac. ROK Builders, the hotel construction affiliate of Roedel Companies, will oversee the renovations while RSJ Associates will provide interior design and procurement services. RGH Hospitality, the hotel management subsidiary of Roedel Companies, will run the Hotel Saranac. The organization is in the preliminary stages of engaging, qualifying and selecting the architectural and design team required to complete the project. Partner of Roedel Companies and president of ROK Builders, Fred B. Roedel III, explained that upon completion the Hotel Saranac will be a historic, upscale, full service hotel that will drive vitality and economic stability to the area. "The Hotel Saranac is an icon of the community and will once again become downtown's centerpiece," stated Roedel. "We look forward to restoring the crown jewel of the Adirondacks and creating an even better space for guests to interact, socialize and enjoy their stay." "We are thankful for the Roedel commitment to Saranac Lake and wish them well in their exciting project which will restore the Hotel Saranac to its place as a community focal point and economic driver," said mayor Rabideau.