SBJ P.O. Box 766 Saratoga Springs, NY 12866
SARATOGA BUSINESS JOURNAL
VOL. 27 NO. 11
HH The Business Newspaper of Saratoga County HH
PRSRT STD U.S. POSTAGE
PAID
GLENS FALLS, NY 12801 PERMIT #600
JANAURY 2023
www.saratogabusinessjournal.com
New Hampshire-based Group Taking Over Saratoga County Tourism Industry In Longfellows Proposes Major Renovations ‘Resurgence;’ Growth Anticipated In 2023
After more than a quarter century in business, the owners of Longfellows have decided to close. The city is soon to review renovation plans from the new owners. BY R.J. DELUKE Longfellows Hotel, Restaurant and Conference Center at 500 Union Ave., Saratoga Springs, is closing this month as the property is being purchased by a New Hampshire group that owns and develops luxury hotels. After more than a quarter century in business, Steve and Yvonne Sullivan and David Powers are selling the property to Hay Creek Hotels of Exeter, N.H. Price has not been disclosed. The Sullivans and Powers also own the Olde Bryan Inn, 123 Maple Ave., Saratoga Springs, and will continue to operate it. “After almost 50 years in hospitality, it’s time to step back,” said Steve Sullivan. “I believe Longfellows is in good hands. Going forward, we plan to continue to own and operate
Courtesy Longfellows
the Olde Bryan Inn for many years to come. I also look forward to time spent coaching those around me, as well as working on social service projects, some that I’ve already been involved in for many years.” Hay Creek wants to renovate the property and operate it as a boutique hotel with a restaurant and spa. Hay Creek is working on renovations with Balzer & Tuck Architecture, The LA Group Landscape Architecture & Engineering and Bonacio Construction of Saratoga Springs. Bonacio Construction also will have an equity stake in the project. Hay Creek Hotels “was created specifically to combine the intimacy of a boutique hotel with world-class cuisine, cutting-edge technology, unparalleled guest service and the exclusive Continued On Page 19
BY DARRYL LEGGIERI As we say farewell to 2022, we can reflect on what a great year it was for leisure travel and in the meetings industry. Leisure travel was anchored by many of our major attractions and cultural institutions, such as the Saratoga Performing Arts Center, Live Nation, Saratoga Casino Hotel, Universal Preservation Hall, Caffe Lena, National Museum of Racing, and the historic Saratoga Race Course. The track’s summer meet eclipsed one million in paid attendance for the seventh consecutive year. As for meetings and events, the return of business was swift. Not even rising costs, staffing shortages and a possible recession changed meeting planner confidence. While we are still below pre-pandemic booking levels, we saw that our leads and bookings volume were on the rise. When we look at the numbers for our lodging partners, there was much to celebrate. Through November of 2022 year to year, Saratoga County saw steady growth over 2021. Over the previous 12 months, demand increased by 14.8 percent, occupancy was up 12.9 percent, average daily rate was up 11 percent, and revenue per available room was up 25.3 percent. Since group business is not entirely back, leisure business literally saved the day. The occupancy and average daily rate that our lodging partners were able to command shows a strong return to business, and breaking records for revenue in many cases. Looking ahead, the pace of recovery can now be described as a resurgence. So, when we look ahead to 2023, we will talk about growth, and not recovery. This could be the year that the industry surpasses 2019 events volume and just keeps going from there. Travel is back, especially in the meetings and events business. Organizations and businesses discovered us for the first time and are realizing the ease of getting to our destination. Additionally, business leaders understand
Darryl Leggieri is the president of Discover Saratoga. that holding events in our destination can be cost effective versus flying to other first-tier locations. Our planners talk about unique destinations, they want different. They would rather explore smaller towns and regions. Our thriving downtown, unique venues, and our wide-open spaces inspire creativity and innovation in a welcoming atmosphere, which creates team building opportunities. Meetings build the bonds that are so important to driving corporate culture, sustaining the health of an organization, and accomplish their mission. Clients are also more aware of sustainability, with a greater emphasis on groups reducing their carbon footprint, minimizing waste, and focusing more on traveler well being—both mental and physical. Wellness classes, spa services, outdoor pursuits in our pristine parks, and the healing attributes of our natural springs are a perfect fit to find personal balance. We’ve always promoted these value propositions, but now it’s a new talking point since COVID has retreated. Continued On Page 8
Stewart's Shops Annual Holiday Match Retiring SEDC President Stresses Importance Program Amasses $2M For Area Nonprofits Of Job Retention And Workforce Housing The 2022 Holiday Match Program conducted by Stewart’s Shops has raised over $2 million for local children’s organizations, the company said. From Thanksgiving Day through Christmas Day, Stewart’s customers donated $1,011,281 to the program. Each individual donation was doubled by Stewart’s Shops. With no administrative fees, 100 percent of the funds benefit local, nonprofit children’s organizations. “We are continually amazed by the generosity of our customers. We are proud to double their gifts allowing us to share more with our communities. These gifts have the power to accelerate progress where it’s needed most and support projects and services that can fuel real change in our communities,” according to Jennifer Frame, Stewart’s Shops director of corporate philanthropy. Some 1,716 children’s organizations received funding from last year’s Holiday Match campaign. The grants help children all year long. All local children’s charities are encouraged to apply for funding from the Holiday Match program. Organizations can apply online through Jan. 31. All groups applying must be locally based, benefit children under 18, and be a qualified, charitable 501c3 organiza-
The Stewarts Shops 2022 Holiday Match program raised $2 million for area nonprofits. Courtesy Stewarts Shops
tion. All the funds will be allocated in March, the company said. Stewart’s Shops and customers have raised over $36 million since 1986 through the holiday program.
BY PAUL POST The Saratoga Economic Development Corp. helped secure $1.5 billion in new business construction, which created and retained thousands of jobs during Dennis Brobston’s tenure as the nonprofit agency’s president. This doesn’t include the GlobalFoundries’ $15 billion investment at Luther Forest Technology Campus in Malta, where plans are in the works for a second computer chip manufacturing plant that might cost up to $10 million and create 1,000 more jobs. Brobston, 63, retired Dec. 31 after 14 years with SEDC. As he looked back at his tenure, he said he expects the Malta project to fuel a whole new wave of business and job growth. That’s why SEDC’s focus the past few years has been on providing the industrial space and workforce housing needed for related, support firms to locate here and succeed. “We’re seeing the need for these things because of the economic viability of our county for new jobs,” Brobston said. “My concern with Global is that when they pull the trigger on Fab 8.2 and start to get new people in here, that we have enough capacity to handle that.” “It’s hard to get workers if you don’t have workforce housing,” he said. “You’ve got to have
Dennis Brobston retired Dec. 31 as president of the Saratoga Economic Development Corp. a place for people to live. It’s something people all across the country are talking about. It’s definitely needed in our county because it’s difficult for some people to afford rents, which have grown to $1,200 to $1,500 for sometimes outdatContinued On Page 13