{"id":6505,"date":"2013-11-12T16:13:48","date_gmt":"2013-11-12T16:13:48","guid":{"rendered":"https:\/\/forumarchives.tmsites.net\/index.php\/2013\/11\/12\/claridge-ac-keeps-name-but-leaves-casino-days-behind\/"},"modified":"2013-11-12T16:13:48","modified_gmt":"2013-11-12T16:13:48","slug":"claridge-ac-keeps-name-but-leaves-casino-days-behind","status":"publish","type":"post","link":"https:\/\/forumarchives.tmsites.net\/index.php\/2013\/11\/12\/claridge-ac-keeps-name-but-leaves-casino-days-behind\/","title":{"rendered":"Claridge AC keeps name, but leaves casino days behind."},"content":{"rendered":"


\n\"\"
\n\tHistoric Claridge Hote<\/span>l<\/p>\n

\t\"\"
\n\tAs it stands today<\/span><\/p>\n

\tPosted: Monday, November 11, 2013 10:27 pm
\n\tBy JENNIFER BOGDAN Staff Writer<\/p>\n

\tFollow Jennifer Bogdan on Twitter<\/p>\n

\tAtlantic City\u2019s historic Claridge hotel will keep its name as it leaves its casino days behind, but much of what its next life will look like isn\u2019t yet clear.<\/p>\n

\tBally\u2019s Atlantic City recently announced plans to sell off the Claridge Hotel Tower to TJM Properties, a Florida-based hotel operator making its first foray into the Atlantic City market. The 500-room, distinctive brick building, which dates to the Depression era, has been part of the Bally\u2019s complex since 2002.<\/p>\n

\tDale Schooley, TJM\u2019s director of acquisitions, said the company had little familiarity with the Atlantic City market but was attracted to the property because of its historic nature. A sale price has not been disclosed. The company, which operates 10 hotels in the Tampa Bay region as well as a number of senior living communities, plans to eschew gambling and keep the property as a stand-alone boutique hotel.<\/p>\n

\t\u201cWe\u2019re not quite sure about a theme,\u201d Schooley said. \u201cOne of the things we want to be is the nongaming hotel at the beach for families. My feeling is that there are a lot of families that would want to be in a nongaming hotel.\u201d<\/p>\n

\tSchooley said the 24-story hotel patterned after New York City\u2019s Empire State Building caught the company\u2019s eye, in part, because it was reminiscent of another historic property in its portfolio. TJM also owns the Princess Martha in downtown St. Petersburg, Fla., which dates to 1924. TJM has turned that 10-story property into a senior living community.<\/p>\n

\tIn Atlantic City, the company will be open to entertaining proposals from prospective tenants. Schooley said TJM would like to bring one or two restaurants into the property, as well as retail shops and any other activities that would appeal to families.<\/p>\n

\tAt one time, Bally\u2019s offered three floors of gambling at the Claridge, but all gambling was removed by the early part of 2013 as the casino explored other plans for the property.<\/p>\n

\tKevin Ortzman, senior vice president of Bally’s, Caesars Atlantic City and Showboat, said the sale, expected to close in January, should have multiple benefits. It will allow Bally\u2019s to focus on a smaller footprint while hopefully expanding non-gambling amenities in Atlantic City, one of the goals of Gov. Chris Christie\u2019s plan to revitalize the resort. Bally\u2019s is one of four Atlantic City properties owned by Caesars Entertainment Corp.
\n\t\u201cHonestly, we were undecided with the direction we were going,\u201d Ortzman said of the plans for the Claridge. \u201cWe were continuing to explore options and then Sandy was a distraction to all of us. When an opportunity presented itself, it made sense to pursue it.\u201d<\/p>\n

\tOrtzman said he\u2019s pleased to see the Claridge go to an enthusiastic operator with a common objective of improving the quality of Atlantic City\u2019s tourist experience.<\/p>\n

\tAtlantic City has tried to capitalize on the boutique hotel scene before to mixed results.
\n\tThe Chelsea Hotel opened in 2008 as owners called the property a throwback to Atlantic City\u2019s heyday as a posh beachfront town before casinos ever emerged. Renovations totalling $112 million were poured into what had been the Holiday Inn and Howard Johnson hotels to create the property.<\/p>\n

\tIn the winter months, the Chelsea closes during the week. Hotel rooms in November are only available Friday through Sunday, and the hotel\u2019s two restaurants \u2014 Dining on the Fifth and Teplitzky\u2019s \u2014 also close for a majority of the week.<\/p>\n

\tA sky bridge connects the Claridge to the rest of the Bally\u2019s complex, which includes the Bally\u2019s Hotel tower, the Dennis Hotel and the Wild Wild West Casino. Ortzman said Bally\u2019s hopes to keep that bridge open, allowing patrons to easily move between the properties.<\/p>\n

\tBally\u2019s also hosts the Legends in Concert show at the Legends Theater, formerly the Palace Theater, in the Claridge. Ortzman said the casino hopes to come to an agreement with the owners that will allow the show to continue in that location.<\/p>\n

\tTJM has plans for some renovations following the close of the sale but exactly how much money will be spent to improve the property isn\u2019t clear, Schooley said. The company plans to keep the property in operation while the renovations are made, he said.<\/p>\n

\tThe Claridge last saw renovations in 2010 as Caesars invested $20 million in refurbishing the rooms and the exterior of the building.<\/p>\n

\tContact Jennifer Bogdan:
\n\t609-272-7239
\n\tJBogdan@pressofac.com<\/a>
\n\tFollow @ACPressJennifer on Twitter<\/p>\n

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