DiCienzos buy two hotels
From the Niagara Falls Review:
Niagara’s DiCienzo family has picked up two of the best views of the Horseshoe Falls after buying the Marriott Fallsview and Sheraton Fallsview hotels last week.
“We’ve been looking for acquisitions for a little while. This move seemed to make sense,” said Dino A. DiCienzo, one of four children of patriarch Dino DiCienzo Sr., now involved in the family business.
He wouldn’t disclose how much his family paid to buy them from the family of Cosmo Menechella, another Falls family in the hotel business.
But tax rolls at city hall list the 32-storey Sheraton Fallsview’s assessment at $51.9 million and the 30-storey Marriott Fallsview’s at $66.3 million. Property assessments are supposed to reflect what a property could be sold for on the open market, though sale prices can deviate from assessed values.
The transaction means the DiCienzos have added the two Fallsview area hotels to their holdings on Falls Avenue — the Crowne Plaza and Sheraton on the Falls, as well as the Skyline Inn and Hampton Inn on Victoria Avenue.
Buffalo Business First also has an article called “Ownership change for 2 N.F., Ont. hotels” with information…
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Sundays are EXTRA Special this Summer
Last Wednesday I received the latest email newsletter from the Marriott Niagara Falls Fallsview & Spa.
You can subscribe to the newsletter by clicking on the Special Email Offers link on the side of the Marriott Niagara Falls Fallsview & Spa main page.
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Pamper Yourself with our 1-Night in Niagara Spa Package
Last Wednesday I received the latest email newsletter from the Marriott Niagara Falls Fallsview & Spa.
You can subscribe to the newsletter by clicking on the Special Email Offers link on the side of the Marriott Niagara Falls Fallsview & Spa main page.
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You’ve Been Dealt a Winning Hand
Last Wednesday I received the latest email newsletter from the Marriott Niagara Falls Fallsview & Spa.
You can subscribe to the newsletter by clicking on the Special Email Offers link on the side of the Marriott Niagara Falls Fallsview & Spa main page.
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Marriott Niagara Falls Fallsview & Spa Contest
Marriott Niagara Falls Fallsview & Spa and CityLine are having a contest worth proximately $3,000$75-million hotel announcement follows casino deal
From the Niagara Falls Review:
Ontario has locked down Casino Niagara’s long-term future with a 15-year extension on the lease at its Falls Avenue location.
The government’s commitment could unleash up to $1 billion in private investment in the area around Clifton Hill -money investors were afraid to spend when the casino’s location was uncertain, said Niagara Falls MPP Kim Craitor.
Ontario Lottery and Gaming, the Crown corporation that owns the province’s casinos, reached a deal with Canadian Niagara Hotels, the company that owns the building Casino Niagara has occupied since its 1996 opening.
“Today is really great news for the employees that work at Casino Niagara,” said Craitor, during a Friday afternoon ceremony at the casino.
It ends uncertainty that has surrounded Casino Niagara’s future for years. While the province was committed to keeping two casinos running, there was no guarantee Casino Niagara would remain on Falls Avenue…
Moments after Craitor’s announcement, Canadian Niagara Hotels released a statement about its plans to start work on a 30-storey 300-room hotel.
The new hotel will be built on land the company owns near its Planet Hollywood restaurant.
The $75-million Marriott Residence Inn would be the first all-suites hotel in the area around Clifton Hill.
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