Adam’s Mark Sold

Adam’s Mark Sold

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Buffalo’s largest hotel has traded hands. San Francisco-based Chartres Lodging Group, LLC purchased the downtown Adam’s Mark hotel for $18.63 million on Tuesday. The 486-room hotel at the corner of Church and Lower Terrace streets had been owned by HBE Corp. since 1998 when it paid $15 million for the property. The Buffalo location was one of five Adam’s Mark hotels purchased by Chartres Lodging in a package deal.

According to Business First, the property is in line for some overdue renovations:

As part of the deal, Chartes (sic) plans on investing more than $238 million in the five hotels in terms of renovations and brand name affiliation switches. Company officials confirmed the downtown Buffalo 486-room Adam's Mark - the city's largest hotel - will be undergoing a multi-million face lift. The hotel, officials have said, will eventually switch to a different brand name.

Built in 1980 as a Hilton, the property is showing its age. One former employee terms the condition of the hotel as “devastating with leaks and very small rooms with little updating.” HBE spent $18 million renovating the property in 1999.

The new owner is planning extensive renovations for its newly-acquired Adam’s Marks in Denver, St. Louis, Indianapolis and Dallas. Denver’s 1,225-room hotel, the city’s largest, will see $70 million in improvements and will fly the Sheraton banner. Dallas’ 1,840-room Adam’s Mark is in line for an $87 million make-over and will also become a Sheraton.

The 910-room St. Louis property will convert to a Hyatt Hotel after a $63 million renovation. Like Buffalo, a new brand has not been announced for the Indianapolis hotel. Chartres intends to spend $18 on renovations at the 406-room hotel according to the Indianapolis Star.

According to the firm's website, Chartres Lodging's principals have been responsible for over $8.0 billion of lodging investments and have asset managed over 100 upscale and luxury hotels, resorts and conference centers. The firm is currently responsible for a $5 billion, 15,600 room portfolio of luxury and upscale hotels, conference centers and resorts located throughout the United States and Japan.

Chartres appears to have gotten itself a bargain locally. The property is currently assessed at $24 million by the City.

IMG_3160.jpg Photos by CitySky Photography by Nate Farnsworth

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What Others Have To Say

  1. RisingDamp666

    1 ratings12345
    Feb 22nd 2008, 01:20

    A relatively modern 486 room hotel for less than $20 million? Plug the holes, wash out the smoke stains, and slap the Days Inn brand on it. Boom! Elderly casino bus tour vacation mecca!

  2. GDC

    0 ratings12345
    Feb 22nd 2008, 01:29

    This hotel does need a renovation. Stayed there once, the room was fine, but it's it's halls and dinning areas that seem 'Dated'.

  3. gaustad

    0 ratings12345
    Feb 22nd 2008, 02:12

    I would view this as a positive for the city. Demonstrates interest and growth expectations from outside the area, which is good. The hotel is a rather ugly concrete structure that desperately needs a face lift.

    Might be a stretch to say, but once again, other investors might see a big 5 star hotel being built by the Senecas and want in on the action at a cheap price.

  4. kirkswan

    1 ratings12345
    Feb 22nd 2008, 04:18

    Thank god somethings being done about the current Adam's Mark! Maybe with a new owner there will be a new, and desperately needed, "face-lift!"

  5. Joshua

    2 ratings12345
    Feb 22nd 2008, 07:44

    I guess when this hotal was built in the late 70s, they didn't take or want to put architectural detail into the building. It really just looks like a square box. Plus, with new hotel opening up on Delaware, this will hopefully create some more competition.

  6. thisoldcrackhouse

    1 ratings12345
    Feb 22nd 2008, 08:59

    I'll miss that giant red Elmo's hand.

  7. ChocolateShake

    3 ratings12345
    Feb 22nd 2008, 09:16

    Where is the bicycle parking?

  8. Buffalopundit

    5 ratings12345
    Feb 22nd 2008, 09:46

    This thing is an eyesore. I hope they rip it down and do something with that property that is less reminiscent of a Soviet apartment block.

  9. SLEEPL8

    0 ratings12345
    Feb 22nd 2008, 09:49

    Good news I guess.

  10. Gotime

    1 ratings12345
    Feb 22nd 2008, 09:51

    This is good news for the Hotel Industry. The hotel has one of the best meeting setups in upstate NY. With 80k square feet of meeting space under one roof. The reason it hasn't been renovated is the former owner has been wanting to unload it for the past several years. He had positioned it for sale to the Senecas, knowing full well that they would do a complete renovation had they bought it. We all know that that never happened. You always can tell when a hotel is for sale by the lack of renovations. I'm sure the new owners are going to bring it up to date. Properly marketed this hotel will draw groups that require 300-400 rooms per night and have heavy space requirements. The hotel can actually compete head to head with the Buffalo Convention center and the Hyatt. The Convetion and Visitors Bureau should continue to market the city to these size groups. There are lots of them out there. Just takes a little more effort to secure ten small groups rather than one large group that doesn't want to be spread out over 4-5 hotels and shoe horned into our outdated convention center.

    Re branding the hotel flying another flag will only help the property. Adam's Mark was a small chain with very little name recognition nationally and internationally. Becoming a sheraton or Hilton will increase the individual travel market share (non-group).

    They have also resolved their union boycott. Blue Cross would not use the hotel in past years because of the pressure from Blues union members. Any organization with union members or affiliations in their membership where also told to stay away. The CSEA canceled their state convention years ago because of the "Black List" status.

    The draw backs to travelers continue to be its remote location to attractions, bars and restaurants within walking distance. Walking past the skyway entrance can be quite intimidatingly for out of town visitors. And once they do cross they find themselves in an area of downtown that is absolutely dead after five o'clock. I've made the walk to main street from there and landed on Main and church...look around and walk right back to the hotel thinking the town is dead after five. The waterfront development could help this situation.

  11. Spaulding97

    0 ratings12345
    Feb 22nd 2008, 11:13

    Great, I'm looking for a place to have my wedding reception in September of 09'. Hopefully this can get a much needed face lift or at least one of the hotels in this city.

  12. mjs

    0 ratings12345
    Feb 22nd 2008, 11:18

    "red elmo's hand...?" it looked more like a red snot! It won't be missed.

  13. wizardofza

    2 ratings12345
    Feb 22nd 2008, 11:35

    This thing is an eyesore. I hope they rip it down and do something with that property that is less reminiscent of a Soviet apartment block.

    Hell yeah everytime I drive by that beast, I picture a bunch of people in dated suits talking like Borat.

  14. GDC

    0 ratings12345
    Feb 22nd 2008, 12:39

    A brand new "Face Lift" would be great.

  15. Boz

    0 ratings12345
    Feb 22nd 2008, 13:01

    Something needs to be done to better connect this hotel to the heart of downtown and the waterfront. I always feel sorry for the conventioneers I see, who look like they're risking their lives crossing Church Street in search of a restaurant.

  16. rb66

    2 ratings12345
    Feb 22nd 2008, 13:15

    This place needs to be leveled. It's the ugliest Hotel I've ever seen and the location is terrible.

    As for the logo, it looks like something designed by the marketing group at Playtex.

  17. STEEL

    2 ratings12345
    Feb 22nd 2008, 13:34

    I used to tool around in this building when it was under construction. Hotel standards are much higher now than when this one was put up. Though it was somewhat luxurious in its day it leaves much to be desired by our current standards. The corridor to the rooms seem like it extends to infinity. The ceilings are low and are made of concrete with spray on pop corn finish. It might be hard to expand the rooms because if I remember correctly the building is kind of like a concrete egg crate.

    Fee architectural advice: Look up the street to the Dulski. Take off the precast concrete exterior wall panels and replace them with floor to ceiling / wall to wall glass. That will make a major difference on both the interior and exterior.

    Most likely their improvements will only include new furniture and linens.

  18. Biniszkiewicz

    3 ratings12345
    Feb 22nd 2008, 15:35

    No one is paying $20 large to demolish it. They bought it cheaply enough to afford some cosmetic upgrades to the rooms, but it's not going to be a radically different hotel.

    From a Buffalo perspective, it's nice to see the development which (eventually) got built nearby after the hotel went up. What was for long years vacant land is now developed. That includes WNED and WKBW, the post office on Genesee and the Blue Cross/Health Now building as well as some of the waterfront. No longer is this hotel on the edge of nowhere. Now it actually seems to me to be located in the thick of things.

  19. RLC

    0 ratings12345
    Feb 22nd 2008, 15:44

    ok...definitely ANOTHER sign that Buffalo is coming ALIVE! Thank God for progress!

  20. tonyarmani

    0 ratings12345
    Feb 22nd 2008, 18:04

    I'm willing to bet that if the unions didnt have any part in the construction of a new building, the idea wouldnt be too far off the deep end. Perception is part of the buying experience, and if the company comes in and only changes the pillows and towels, nobody will believe it is different, new, better, and won't consider it.

    if this is going to be Buffalo's premier hotel, it should atleast look like it

  21. DJCramer

    0 ratings12345
    Feb 22nd 2008, 21:00

    This hotel definitely needs an exterior and interior facelift. I stayed here 2-years ago following a downtown wedding. I travel all over the country for business and have never seen a hotel in such disrepair as this. The toilet seat was so old that it was literally starting to separate and disintegrate. The sink was clogged. Disgusting. In it's current state, this hotel does nothing but reaffirm the idea that Buffalo is a dying, rust belt, "has been". I'm thrilled to hear that it will be renovated. Along with the Hyat renovation, the Embassy Suites in the Dulski, the new Statler Rooms, the Hampton, and the Mansion on Delaware; there will finally be a number of decent lodging options.

  22. pgf1948

    1 ratings12345
    Feb 22nd 2008, 23:24

    It's because it was built in 1980 that "it's showing it's age."

    Only the 1970's could be more boring and at the same time so offensively in the face of a city. The building relates to nothing.

    Successfully lifting the face of this one will be tough. No wrinkles were ever allowed.

  23. RisingDamp666

    1 ratings12345
    Feb 23rd 2008, 23:35

    As much as I love steel and glass, I think if they bricked up the exterior, it would blend better with the surroundings and spare the new owner some major bank. Also, being a low-slung building, glass wouldn't have the same impact as something more towery. As it stands, that Late Modernist architecture is like John Portman on a budget. I can appreciate it for what it is- or was, but I wouldn't let that get in the way of the bulldozers.

  24. SLEEPL8

    0 ratings12345
    Feb 25th 2008, 09:43

    I like the fountain.

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