Developers have breathed new life into one of Saratoga's historical landmarks. A few days before it is set to re-open, our Matt Hunter takes a look inside the remodeled Adelphi Hotel.

SARATOGA SPRINGS, N.Y. – The famed founder of the Saratoga Race Course, John Morrisey is just one of The Spa City's historical figures paid homage to at the newly renovated Adelphi Hotel.

"He's a character,” Adelphi Hospitality Group Managing Partner Simon Mildé said Thursday. “He's well known and lived in the hotel and he died in the hotel, so he probably haunts the place, but who knows?"

Along with Morrisey's lingering spirit at the bar that now bears his name, hotel owners Mildé and Larry Roth hope to see plenty of other people coming through the doors once the Adelphi reopens Sunday.

There's a huge crowd of wealthy people in the area who would like to have a really elegant facility to come to, to dine in, to drink in and sleep in,” Mildé said. “I hope we've provided that here."

Since buying the Adelphi in 2012 and shutting it down less than a year later, the business partners have invested more than $50 million in the project, believing they've re-built the highest class hotel in the region.

"I have a lot of friends down in Kentucky, and their number-one complaint about the town was the lack of a very good hotel. There were average hotels, but nothing great," said Roth, who also owns thoroughbreds.

In the late 19th century, Broadway was lined with some of the biggest and most famous hotels anywhere in the world. Approximately 140 years after it was built, the Adelphi is the last remaining historic hotel from Saratoga's golden era.

“For me, I think the 1870s up here almost sounded like the wild, wild West," Roth said.

"I think anyone who drives through this town looks at this place and says 'wow, that's different,' ” Mildé said. “It's definitely an icon in this town and it needed to be preserved."

The owners say they’re thrilled to usher a cherished piece of Spa City history into a new age.

"As optimistic as you can be, sometimes [things] don't turn out as you expected or hope them to be,” Mildé said. “This has turned out, I think, better than I expected."

The Adelphi Hotel features 32 luxury rooms and suites with nightly rates beginning at $345. Anyone who books a two-night stay or longer before this Halloween will receive a 30 percent discount on reservations through Memorial Day of next year.