UTICA, N.Y. -- It's the beginning of a new chapter for the Hotel Utica.

The building has officially been sold to Visions Hotels. The company owns several hotels in the city.

Mayor Robert Palmieri said he's excited to have the sale complete.

The CEO of Visions Hotels said he understands the importance of Hotel Utica to the community, and the company plans to transform it into a landmark the city can be proud of.

The final closing is expected to happen in the next several days.