Category Archives: Business News

by Andrea Palmer
The Holiday Inn Saratoga Springs is under new ownership and management.
Kevin Tuohy, who has ties to Saratoga Springs, is the new general manager of the hotel.
“My company knew what an exciting and dynamic market Saratoga is. They’ve been trying to get into the Saratoga market for quite some time,” said Tuohy.
Fred George is the president and CEO of the new ownership group JLK Global Fund International, based in Canada. The property was purchased for $21.8 million. JLK Funding partnered with New Castle Hotels and Resorts to manage the asset.

Mercy House of Saratoga Inc., a new nonprofit group created to provide temporary residences for a wide range of people in need, has received a pledge of $25,000 from the New York Thoroughbred Horsemen’s Association (NYTHA) to support and dedicate accommodations for Saratoga Race Course backstretch workers.

Saratoga Performing Arts Center announced that its Saratoga Wine and Food Festival will return for the harvest season on Oct. 4-5 with a focus on sustainable culinary practices and cultural experiences.
Celebrating the bounty and talent of the region from the Hudson Valley to the Adirondacks, the destination event will feature a new farm-to-table dinner centering around the theme of “Forest Magic.”
The 2019 festival will feature live music curated by Caffè Lena, sculptures by The Hyde Collection, photography by Terri-Lynn Pellegri, food tastings and culinary talent curated by John Sconzo of Rascal & Thorn and Kim Klopstock of Lily and the Rose, chef demonstrations on sustainability, VIP experiences, and design by Colin Cowie Lifestyle.

By Christine Graf
The sale of Siro’s Restaurant in Saratoga Springs was finalized less than three weeks before the restaurant’s July 8 opening.
It was purchased for $1.2 million by the Spitalny family through the SPS & JPS Family Partnerships. According to Peter Spitalny, president of Albany’s Stein Fibers, the purchase took place over the course of 30 to 45 days.
“The purchase came about very, very quickly,” said Spitalny. “The previous owners were thinking about selling, but said if I was interested I had to move quickly in order to complete the purchase. They were proceeding as if they were not going to sell it. They had someone who was seriously interested in buying it after the meet was closed, but who could not close as quickly as I was able to. We had a handshake deal two-and-a-half weeks before the scheduled opening.”