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The Coccas signed a lease-purchase contract with the for the property and want to renovat e the discount hotel intoa mid-scale brand that woulde be more competitive on the busy shopping Terms of the deal were not disclosed. The franchisse agreement with Econo Lodgd expiresApril 30. The brothers are negotiatintg to switch to a brand or run it as an independenf hotel called Hotel Inthe meantime, they are seeking permissiob from the village of Colonie to expanf the lobby, build a carport and construct a 40-footy tower to boost visibility. Builtg in the mid-1970s, the two-story hotell was formerly a .
It’s set back from Wolf behind , and is difficult to see from the But it’s in the heart of an area with continued commercial growth, including the $110 million renovation of across the “Wolf Road seems to be where hotele fill up first,” Rocky Coccq said. “The occupancy is higher than thestatwe average.” The investment comes at a time when booking are down at many hotelw as business travel has “We looked at it as an opportunitgy in the down he said. “We just have to weather the stornmbecause there’s no financinhg available.” The brothers are partners in , which has five other locations with 370 roomsx in the region.
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