• 7.8.24
• Member News

Branch Hospitality Group Acquires Saranac Waterfront Lodge

Branch Hospitality Group (BHG) is pleased to announce that they have begun acquisition of Saranac Waterfront Lodge, a top-rated destination in beautiful Saranac Lake, New York. The Saranac Waterfront Lodge was established in 2020 and is being added to the group's portfolio as an opportunity to enhance its commitment to providing exceptional experiences to guests while expanding its presence in key markets. The transaction has been finalized and the ownership transfer will be completed in the next 30 days. 

The Branch Hospitality Group consists of five members who all play an integral part in the success and growth of the company--Nathan Race, a well-respected local attorney, Chris LaBarge, a successful insurance and real estate entrepreneur; and the three Monette brothers, Bruce, Brian and Christopher, who own and operate various business interests in Northern New York.  All were born and raised in the North Country/Adirondack region and take immense pride in calling this area home. 

“Our roots run deep, and we are fully committed to helping the area grow and prosper to its utmost potential.  We are grateful to serve as the stewards of the exquisite Saranac Waterfront Lodge and we do not take this responsibility lightly,” said Brian J. Monette. 

Michael Doran, President of Branch Hospitality Group, acknowledged the quality of the property’s staff: 

“Part of the appeal of bringing the Saranac Waterfront Lodge into our group was the superb team of professionals working at the facility under the leadership of General Manager Matthew Taormino. We appreciate their engagement and attentiveness to their guests as well as the way they have dealt with the uncertainty of the last few weeks.  We look forward to formally welcoming them to the BHG family.” 

Steven Cacchio, President & CEO of Champlain National Bank, which served as the lead bank on the transaction, spoke on behalf of the three financial institutions that have been involved in the property since its design phase-- Champlain National Bank, Cattaraugus County Bank and Evans Bank. 

“We could not have imagined a better outcome than we have here,” he explained.  “BHG is an experienced ownership group whose principals are committed to the community and who value Saranac Waterfront Lodge as the jewel of a destination that it is.  All the financial institutions involved believe this is the optimal resolution for the buyer, employees, guests and community-at-large.”