Bankruptcy Filings Drop
From WKBW Channel 7 in Buffalo:
A popular Niagara Falls, NY hotel is changing hands. A report in today’s Business First says Canadian Niagara Hotels will buy The Crowne Plaza Hotel on 3rd Street. Last March, a New York City investment trust bid $21 million for the hotel during a court-ordered foreclosure auction. It has been marketing the hotel ever since. Canadian Niagara Hotels has properties in both the U.S. and Canada. The hotel will remain open as it changes hands.
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193-room Hotel Niagara headed to the auction block
From the Buffalo News:
The once-elegant 12-story Hotel Niagara, built in 1924 with 193 rooms, is going on the foreclosure auction block.
The hotel, which has been closed for some time, has fallen on hard economic times and needs modernization if it is to remain competitive. It has been the subject of a mechanic’s lien, owes back taxes and has been condemned for occupancy because of the lack of heat and water during a reconstruction effort.
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