Hamister Group Purchases Hotel in Downtown Jamestown

December 13, 2013

Williamsville, NY - The Hamister Group, LLC closed on the purchase of the Ramada Jamestown Hotel today as the company looks to expand their hospitality footprint in Western New York. 

Currently not a profitable business, 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, Senior Vice President of Business Development for the Hamister Group.  “We are committed to this project and look forward to positive working relationships with the City of Jamestown and the entire Community.”

“On behalf of the Greater Jamestown Region, we welcome the interest of a quality organization like the Hamister Group in our community.  We look forward to working with them in the coming weeks to bring their plans to full fruition.  Upon learning of the Hamister Group’s acquisition of the property, city development director Vince DeJoy and I were extremely pleased and encouraged for the future of this hotel because of the quality work that the Hamister Group is known for in all of their ventures.  We look forward to working with them to bring new life and vitality to this flagship property in Downtown Jamestown,” said City of Jamestown Mayor Sam Teresi.

The company intends to announce more specific plans for the hotel within 60 to 90 days.

The Hamister Group, LLC 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 Class A office space.  The company also plans to break ground on a $25 million, 114-room upscale hotel and market-rate apartments in Niagara Falls, NY in the second half of 2014.
 
The Hamister Group, LLC is headquartered in Williamsville, NY, and employs nearly 700 people in the Northeastern United States.  For additional information, please visit www.hamistergroup.com.

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