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United Capital Corp. Acquires The Hilton Albany

All News, Hotels & Resorts, | 03-11-2015

United Capital Corp. announced today that it has acquired the 17-story, 385 room Hilton Albany hotel, located in the heart of Downtown Albany, New York, just one block from the New York State Capital Building and the closest hotel to the Times Union Center, Albany’s home for arts and entertainment.

 

Although the Hilton Albany has been a quintessential fixture in the Albany skyline for more than three decades, it recently completed a $16 million renovation, making it the newest and most elegant hospitality property in the area. This comprehensive renovation included all new guest rooms, corridors, and elevators, as well as upgrades to its more than 30,000 square feet of meeting and banquet space, the largest in the area. The Hotel is also home to the newly renovated Charter Restaurant, offering a sophisticated and upscale dining experience, and the Sessions Lounge, a great place for a power lunch, meeting with friends or an evening cocktail.

 

In commenting on the announcement, A.F. Petrocelli, United Capital’s Chairman and President, noted “This is by far the finest hotel in the Capital region and we are proud to add it to our growing portfolio.” General Manager of the Hilton Albany, John D’Adamo added, “The Hilton Albany continues to spearhead the hospitality and tourism resurgence of the Capital region by offering the largest and most up to date accommodations, as well as the finest food, beverage and meeting services available under one roof. We are proud to continue our leadership position in the City and region as part of the United Capital team.”

 

United Capital Corp. and its subsidiaries own and manage more than 150 real estate properties nationwide as well as two manufacturing companies providing engineered products to industrial and automotive markets worldwide. The Company also owns and operates a portfolio of eight hotels, including three DoubleTree by Hilton hotels in Miami, Florida, Windsor Locks, Connecticut, and Rochester, New York, as well as four other full service hotels in Atlanta, GA, Utica, NY, Nashua, NH and Long Branch, NJ.

 

Certain statements in this press release and other statements made by the Company or its representatives that are not strictly historical facts are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 that should be considered as subject to the many risks and uncertainties that exist in the Company’s operations and business environment. The forward-looking statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the actual results, performance and/or achievements of the Company to differ materially from any future results, performance or achievements, expressed or implied, by the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, and that in light of the significant uncertainties inherent in forward-looking statements, the inclusion of such statements should not be regarded as a representation by the Company or any other person that the objectives or plans of the Company will be achieved. The Company also assumes no obligation to publicly update or revise its forward-looking statements or to advise of changes in the assumptions and factors on which they are based.

 

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