R
ick Vidal's NewVida resort in the Adirondacks has seen rapid growth since its opening 10 months ago, but he's now seeking an equity investor to help expand and secure the property's future. The 1,140-acre preserve, including a $5.9 million Mountain House mansion, is on the market for $12.9 million. Vidal aims to use the investment to enhance the resort's viability.

    The Adirondacks are experiencing a tourism resurgence, with hotel revenue in Essex County growing by 23% and demand increasing by 16% since July 2023. State-funded investments have revitalized the region's aging hospitality infrastructure, including the Cambria Hotel in Essex County. The North Country Regional Economic Development Council is prioritizing hotel development to drive economic activity.

    Tourism has become a vital component of the upstate economy, providing tax revenues for localities and supporting residential property taxes. However, labor and housing shortages remain a challenge. To address this, the state launched the Next Move NY program, aiming to attract transitioning military personnel to fill job vacancies in the region. Hotels in the Adirondacks typically operate during the peak travel season of July through October, with higher vacancy rates from November to April.