Lake Placid has celebrated the grand opening of the Cambria Hotel, marking the first new hotel in the area since 2013. This $35 million investment brings a modern 105,645-square-foot hotel featuring 185 guest rooms, a restaurant, event space, and a waterfront gathering area. The opening of the Cambria Hotel signifies a significant boost to the local economy, creating over 50 full-time jobs and contributing to the flourishing tourism industry of New York State.
Governor Kathy Hochul highlighted the hotel’s role in enhancing Lake Placid’s appeal to tourists globally, noting its capacity to showcase the region’s stunning scenery, world-class sporting events, and unique offerings of the North Country. The hotel aligns with Governor Hochul’s commitment to bolstering New York State’s vibrant tourism sector, which generated an unprecedented $123 billion in economic impact statewide in 2022.
The North Country Regional Economic Development Council has played a crucial role in this development, targeting lodging expansion and tourism infrastructure investments in the Adirondack and Thousand Islands regions. The Council’s focus on improving lodging capacity complements the region’s tourism strategy, furthering the growth of the hospitality economy in these areas.
Bhavik Jariwala, Lead Developer and Managing Member of Dual Development LLC, expressed gratitude for the support from Governor Hochul and Empire State Development, emphasizing the significance of the Regional Economic Development capital grant in realizing the project. Jariwala anticipates the Cambria Hotel’s positive impact on the region’s continued success.
Hope Knight, President, CEO and Commissioner of Empire State Development, remarked on the importance of tourism as a key economic driver for New York State. The addition of the Cambria Hotel to Lake Placid, renowned for its natural beauty and attractions, is expected to attract travelers both domestically and internationally, supporting jobs, businesses, and highlighting the diverse offerings of the North Country region.