CARLISLE, PA (December 1st, 2010) - The Shippen Place Hotel and Black Horse Tavern were recently acquired with assistance from the Cumberland Valley Visitors Bureau (CVVB) and sister agency, Cumberland County Economic Development's (CCED), Tourism Infrastructure Loan Fund (TILF).
The new investors including Shailesh Patel, Naresh Patel and Sammie Patel, have a vast amount of experience in the lodging industry and own five other hotels in Central Pennsylvania. The owners plan to retain the employees of the hotel, and continue to operate the Black Horse Tavern restaurant. They also have plans of branding the property with a national hotel franchise and doing property renovations/upgrades.
In 2010 the CVVB set aside funds to create a revolving loan pool with the purpose to allow hospitality venues in Cumberland County to upgrade their facilities and other tourism assets to enrich Cumberland Valley's tourism experience. "The Shippen Place Hotel is a perfect example of why we developed the TILF program. I'm very happy to see these funds being used by experienced owners that will be able to invest in the Shippensburg community," said Shireen Farr, Director of Tourism. Omar Shute, Executive Director of the umbrella corporation that oversees CCED and CVVB said, "Cumberland County is open for business and welcomes investment. We are confident the new ownership group will do a great job upgrading and operating these two critical establishments to Shippensburg's economy as well as tourism efforts and we were glad to be able to assist with the transaction."
For more information on the Tourism Infrastructure Loan Fund, tourism establishments such as restaurants, hotels, bed & breakfast, and attractions are encouraged to contact Don Coffee at CCED at 717.240.7181 or via e-mail at email@example.com.
The mission of CCED is to be a catalyst for job creation; entrepreneurship; business attraction, retention, and expansion on behalf of the citizens of Cumberland County and South Central Pennsylvania.
The mission of the Cumberland Valley Visitors Bureau is to promote Cumberland Valley as a tourist destination, attract visitors to the area, enhance the visitor's experience, and to encourage and promote overnight stays.
The Cumberland Valley Visitors Bureau is also part of Pennsylvania's Dutch Country Roads region, the number one visited region in PA, a true vacation destination where country meets city and the past lives side-by-side with the present.