The Hudson Valley Resort and Spa has been in need of a facelift -- and now it's getting one.
The HNA Group has bought the aging building for $13.8 million.
"To have a company from China take an interest in this wonderful spot in our town, I think it's fantastic," Town of Rochester Supervisor Carl Chipman said. "It'll put us on the world map."
According to the holding company that sold the resort, HNA plans to keep it open as a first-class resort. It also plans to use the property for company retreats. That's something Chipman says will keep the local economy strong.
"The Hudson Valley Resort is the largest employer in the town of Rochester," he said, "so it’s very important that we have a thriving Hudson Valley Resort there."
The Hudson Valley Resort and Spa was built in the 1950s and went through a major renovation in 1998. It has 332 rooms, a conference center and an 18-hole golf course. The resort employs more than a hundred people.
Chipman says he hopes this new investment will bring more jobs to the area.
"Our economy is pretty much 50/50 based between tourism and agriculture," he said. "So tourism is a very big component, and as we lose each of these hotels, it makes it harder for our other hotels to survive."
HNA's hospitality group owns several high-end hotels around the world. Chipman says it's just the kind of investment the town needs.
"We want to be a destination for the world, and hopefully it will help our other resorts at the same time," he said.
The new owners will meet with the town's planning board in the coming weeks, and after that, renovations can begin.