Termini Converting Webb Building to Boutique Hotel | News
BUFFALO, NY - Downtown Buffalo is about to get another hotel, this one with little fanfare and no big public subsidy.
Rocco Termini brought the long-abandoned Webb Building back from the dead six years ago, spending $13 million to develop 32 apartments in building. He is teaming with Earl Ketry, owner of the adjacent Pearl Street Grill and Brewery, to convert the Webb Building into a boutique hotel.
Webb Lofts was 100 percent occupied, but Termini and Ketry saw a business opportunity. The conversion is being done largely to accommodate patrons of the brewery's booming banquet business, including wedding receptions.
Termini has relocated the building's tenants to other properties he owns and half-of-a-million dollars in work is underway. Termini said the new hotel, dubbed "Pearl at the Webb," will open in about three weeks. The basic configuration will remain the same: 32 two-bedroom units.
The hotel will not affiliate with a national chain and Termini said prices have not been finalized.
The downtown hotel market has had its share of struggles over the years. While Termini's boutique hotel is small and targeted towards a niche, can downtown handle continued growth? Termini says yes.
"I think what's happened downtown is for many years we had a great demand here but we didn't have any product," said Twermini. "What we had was B and C type hotel rooms. Now that we have A types with The Avant, the Hampton - those are packed every single week. The Lafayette - we're operating at 80 percent and we don't even have a flag, so it's all word of mouth. I think if you have a good product people will come and stay downtown instead of staying in the suburbs when they come to Buffalo."
Our Investigative Post partner Jim Heaney has more on the latest "boutique hotel" to come to the Queen City of the Lakes. Click on the video link above.