MD/Muroff Daigle Hospitality Group announced the sale of The EconoLodge-Lake George.
The transaction closed on Feb. 5, said Mitchell B. Muroff, Esq., principal with the hospitality group.
The seller, Moore Fun Enterprises Inc., was represented by Muroff, who also secured the buyer, Amber Hospitality Group.
The Econolodge boasts 50 updated guestrooms, an indoor pool and spa, an outdoor pool and meeting room.
The Moore family has owned the hotel (the former Lake George Inn) for 40 years and felt it was time to move on.
The new owners, Yatish, Chandrika and Hardik Shah, have operated several other hotels including the Four Seasons Motel in Malone, which is currently listed for sale with Muroff Daigle Hospitality Group.
The Shahs plan to be hands-on operators and will live on site during the summer months, according to Muroff.
The Econolodge is said to be rated as one of the top hotels in the Choice system. The new owners said they plan insure it continues to maintain those high standards.
MD/Muroff Daigle Hospitality Group serves the greater New York-New England region as a boutique hospitality brokerage firm representing independent and franchised hoteliers.
Last fall, the company was involved in the sale of the Ramada Queensbury/Lake George, a 110-room hotel at 1 Abbey Lane, Queensbury, to Paresh Patel, Darsham Patel, Minesh Hirpana and Akash Patel.
The transaction closed on Sept. 26 for a price of $3.2 million, said Muroff,
Muroff Daigle Hospitality Group represented the seller, MPRV Enterprise LLC, in the transaction and was also responsible for securing the buyer, Velanja Hirpara LLC.
The Ramada Queensbury /Lake George has banquet facilities, meeting and conference rooms and an indoor swimming pool.