BUFFALO, NY (WIVB) – The Henry Urban Resort conference center released a statement Tuesday that operations will be ceased effective February 27.
“We are committed to breathing new life into these historic buildings,” said Diana Principe, Hotel Henry Executive. “In just three short years, we worked with the community to create the impact that Hotel Henry had on the region.” is quite remarkable. “
Given the ongoing restrictions businesses face during the pandemic, the subtenant, Richardson Center Development Corporation (RCDC), and the subtenant, Hotel Henry, have agreed to terminate the initial 10 year rental period before the contract expires.
“Building and running a hotel business in a huge, converted historic building is both an asset and a challenge, and has a difficulty and expense that other hotels simply don’t have,” said Dennis Murphy, a member of the Hotel Henry Company. “By the time Hotel Henry entered 2020, the business was well on its way to a second year of healthy profit. The global pandemic has completely changed that. There is no doubt that Hotel Henry suffered financially in 2020 and 75% of its forecast revenue was lost to the effects of COVID. However, we have evolved our business model to take every opportunity to hold out through 2021 and meet the hotel’s commitments. Hotel Henry is a victim of a pandemic that has unfortunately put us and many hotels in the United States out of business. “
Opened in April 2017, Hotel Henry has received national recognition and was named one of Time Magazine’s Greatest Spots in 2018. No information has been released on whether operations will resume in the future.
“It was great to work with us and to speak transparently with us about the challenges they were facing,” said Mark Mortenson, president of Richardson Center Corporation. “As landlords, we can appreciate the unprecedented challenge the pandemic posed to their business and the travel and accommodation sectors in general. As the administrator of the Richardson Olmsted Campus, our priority is to determine ongoing use of this asset in conjunction with our ongoing reuse efforts for the remaining buildings on campus. “
Kelly Khatib is a digital reporter who joined the News 4 team in 2019. You can find more information about her work here.
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