Jan 23, 2024
New 185-Room Hotel Will Include Full-Service Restaurant, Flexible Event Space, and Waterfront Gathering Area – Creating At Least 50 New Jobs
Project Builds on Governor’s Commitment to Supporting New York’s Tourism Industry Following Record Visitation and Spending in 2022
Governor Kathy Hochul today announced the grand opening for the $35 million Cambria Hotel in Lake Placid – the first new hotel to open in Lake Placid since 2013. The modern, 105,645-square-foot hotel features 185 guest rooms, a restaurant, event space and a waterfront gathering area, and will employ more than 50 full time employees. The grand opening of the Cambria Hotel builds on Governor Hochul’scommitment to supporting and growing New York State's vibrant tourism industry, which generated a historic $123 billion in statewide economic impact in 2022.
"For the first time in more than a decade, Lake Placid is opening the doors to a brand-new hotel that will welcome visitors from around the world to enjoy its breathtaking scenery, world-class sporting events, and all that the North Country has to offer,” Governor Hochul said. "Tourism is the engine that drives our state, and thanks to a state investment and our partnership with the Regional Economic Development Council, the Cambria Hotel will help to create jobs, draw countless visitors to New York, and build a strong, prosperous economy in Lake Placid.”
The North Country Regional Economic Development Council has specifically targeted lodging development and investments in tourism infrastructure in the Thousand Islands and Adirondack regions to expand and support the area's thriving hospitality economy. The Adirondacks are known for their natural beauty, first-class outdoor recreation, history and family-friendly activities. By supporting projects that address lodging capacity, New York State's investments complement regional tourism efforts. To support this project, the North Country Regional Economic Development Council has recommended a $3 million ESD capital grant in exchange for 51 new jobs.
Lead Developer and Managing Member of Dual Development LLC Bhavik Jariwala said, "I would like to express our sincere gratitude to Governor Hochul and Empire State Development for awarding our Cambria Hotel Lake Placid project with a Regional Economic Development capital grant. This support is instrumental in bringing our vision to reality, and we are truly thankful for ESD's commitment to fostering economic development and growth in the North Country region. We look forward to making a positive impact with this project and contributing to the continued success of the region."
Empire State Development President, CEO and Commissioner Hope Knight said, "Lake Placid is one of our most beautiful areas in New York State and relies on our tourism economy to thrive. The new Cambria Hotel is a welcome new addition to the regional economy and will bring travelers from around New York State and the world. Tourism is an important economic engine for New York State, and the Cambria Hotel will support this critical industry by adding jobs and business and fueling excitement about all the North Country region has to offer."
Empire State Development Vice President and Executive Director of Tourism Ross D. Levi said, "The Adirondacks are a crown jewel for New York State tourism, and having a top notch new venue like the Cambria for lodging and special events will only help increase the region's appeal. I LOVE NY looks forward to promoting the property to visitors as part of a getaway to the Lake Placid area any time of year, from skiing Whiteface, to extreme sledding and the mountain coaster at Mt. Van Hoevenberg, experiencing the Wild Walk at the Wild Center, paddling on Mirror Lake, exploring the Olympic Museum and zip lining at the Olympic ski jumping complex. Lake Placid is a perfect example of how easy it is to love New York."
North Country REDC Co-chairs James McKenna and Dr. Kathryn Morris said, "We are thrilled to welcome the new Cambria Hotel to the North Country. As co-chairs of the North Country REDC we are proud to support new investments that will encourage job creation and economic growth in our communities. As we continue to grow our tourism industry, projects like this one will welcome visitors and provide opportunities to the people who live and work in the region."
State Senator Dan Stec said, “The grand opening of the Cambria Hotel is great news for Lake Placid residents and visitors. Having a new, modern hotel such as this is a major boost for our thriving tourism industry and creates additional jobs and opportunities here in the North Country.”
Lake Placid Mayor Art Devlin and North Elba Town Supervisor Derek Doty said, “The Butler family had nearly six decades of service to the community in the hospitality business, as well as their work with local charity groups. It is great to see the revitalization of the property that will ensure that it is a vital part of our community for decades to come. It is also nice to see that the new hotel is going to be carrying on as a family-run business. We look forward to working with the Jariwala family and wish them all the best of luck.”
Governor Hochul’s Support for Tourism Industry
Governor Hochul has maintained a strong commitment to supporting New York’s tourism industry – one of the state's key economic drivers. The Governor launched the “Bring Back Tourism, Bring Back Jobs” recovery package to initiate an unprecedented $450 million investment to support travel industry workers, small business support programs and initiatives to bring new and unique events to New York State. In 2022, the Governor announced the completion of a $104 million renovation of the Lake Placid Olympic Center, capping off a six-year, $550 million investment in New York’s winter sports infrastructure ahead of the 2023 FISU Winter World University Games. The Governor has also announced robust I LOVE NY marketing efforts to encourage travel throughout New York State, including specialized campaigns like the I LOVE NY Black travel initiative to boost Black traveler visitation and new I LOVE NY partnerships to support travel by highlighting the state's rich history and heritage in baseball and hip hop.
Last year, Governor Hochul announced that New York State welcomed 291.5 million visitors in 2022, the largest number of visitors in New York State’s history, generating more than $78.6 billion in direct spending and $123 billion in total economic impact following the Governor’s historic investments in tourism, economic development, public safety, transportation, and other key sectors. Additionally, New York State awarded $15 million of Market New York grants to support tourism marketing and capital projects, as well as more than $14 million in grants for 30 local and regional destination marketing organizations through the EDA Tourism Partner Sub-Awards Grant Program.