RITCHFIELD, SHELBOURNE ACQUIRE RENAISSANCE SYRACUSE HOTEL

SYRACUSE, N.Y. — A joint venture between Ritchfield Hospitality and Shelbourne Falcon Investors has signed an agreement to acquire the Renaissance Syracuse Hotel in Syracuse. The 20-story hotel contains 279 rooms and suites. The joint venture plans to complete a $5 million renovation to the property that will include converting it to the Crowne Plaza brand. Ritchfield will operate the hotel once the deal closes, which is expected in July.