Placid Bay Inn Changes Hands After Four Decades | News, Sports, Jobs
LAKE PLACID – A Lake Placid hotel that hasn’t changed hands for four generations has been sold to a regional businessman who sees potential in the property’s renovation.
The Placid Bay Inn, which has been in the Dramm family for 41 years, was sold last month to hotelier, investor and real estate broker Keir Weimer.
On social media, Denise Dramm thanked all visitors to her hotel over the years.
“It was a great pleasure to welcome you all to our family. It’s time for this young woman to retire. she wrote.
Weimer, who grew up outside Syracuse and whose family has come to the Adirondacks for generations, is President of Adirondack Hospitality Ventures, Weekender Hospitality and the Keir Weimer Brokerage Team at Engel & Volkers in Lake Placid. He also owns the Alpine Lodge in North Creek and the Great Pines in Old Forge. He started out as a real estate agent, but said he always wanted to be a developer.
“I have always had a vision and an interest beyond brokerage transactions” he said. “I wanted to be an owner and developer, and I wanted to get a feel for the creative side of real estate, which to me is hospitality because you can create the experience, the amenities, the design elements. All of these things come together to create a unique brand.
“I also travel a lot and see a lot of what I like and what I don’t like” he said.
Weimer bought the Old Forge in 2015, bought the North Creek last year, and his business continues to grow with the purchase of the Placid Bay Inn and possibly other properties in Vermont this year.
The hospitality industry, in general, has been challenged by the coronavirus pandemic. As hotel bills continued to be owed, fewer people stayed in hotels in many areas as fewer people traveled for work and play, period. The industry has lost jobs. Millions of hospitality workers in the United States were laid off last year, and according to data from the United States Bureau of Labor Statistics, in April, total hospitality employment remained in the millions. jobs below pre-pandemic levels. Even before the pandemic, the industry was affected by the growing popularity of short-term vacation rentals.
Considering all of this, there aren’t many new hotels opening at the moment.
“When you look at the industry in general, it’s a contraction” Weimer said Wednesday. “It was really negatively impacted by the pandemic. However, I see pockets of growth and opportunity that I think a lot of operators and owners don’t see. They are withdrawing from operations or laying people off; they have to cope with reduced demand. However, in the markets we are in, we are actually seeing renewed demand and increased demand above our historical levels. “
In Lake Placid, despite the pandemic, the hospitality industry flourished. The summer tourist season last year was busier than usual and the occupancy rates of many hotels remained high later in the season as many businesses and schools were still operating remotely, giving people the opportunity to work and learn where they want. Weimer’s properties in North Creek and Old Forge have seen a similar increase in occupancy, he said.
“Mainly, we attribute it to people who simply want to get away from everyday life and who are locked in the big cities”, he said.
“Being in a cleaner environment in the mountains with that as a backdrop,” Weimer added, pointing to the view of Lake Placid from the hotel, “And in our other properties, we have had record revenue month after month since last July. “
The Placid Bay Inn is currently undergoing renovations. The blue exterior is painted black. The rooms are renovated, the furniture replaced, the technology updated. When complete, the hotel’s 19 rooms and two cabins will have a more modern Scandinavian-inspired design, with high-speed internet access, smart TVs, Wi-Fi locks and voice-activated technology, according to Weimer. and the hotel manager, Martina Svrchek.
The goal is for the hotel to be open for the July 4 weekend, according to Weimer.
July and August are generally peak months for tourism in Lake Placid.