Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.

Owners of Fleet Feet Syracuse retire, sell the franchise back to the parent company
DeWITT, N.Y. — The owners of Fleet Feet Syracuse say they have retired and sold the local franchise to Fleet Feet Sports Development Company, a

Syracuse University’s Alford to depart for University at Buffalo dean job
SYRACUSE, N.Y. — Keith A. Alford, chief diversity and inclusion officer (CDIO), at Syracuse University, is leaving Syracuse this summer to become dean of the

Binghamton Rumble Ponies’ stadium has new name
BINGHAMTON, N.Y. — The Binghamton Rumble Ponies announced they will play their home baseball games in Mirabito Stadium following a naming-rights change. The Binghamton Rumble

New York’s COVID positive-test rate falls to lowest level since pandemic started
ALBANY, N.Y. — Gov. Andrew M. Cuomo on Friday reported that New York state’s daily positivity rate for COVID-19 tests fell to 0.59 percent in

Syracuse Mets to expand seating in June
SYRACUSE, N.Y. — The Syracuse Mets are expanding seating to fully vaccinated fans starting in June. The team will boost overall capacity to the stadium

TSA at Syracuse airport prepares for busy summer travel season
SYRACUSE, N.Y. — The Transportation Security Administration (TSA) expects to see an uptick in the number of travelers who will be flying out of Syracuse

Binghamton professor Whittingham, a Nobel Prize winner, named fellow of the Royal Society
VESTAL, N.Y. — M. Stanley Whittingham, a 2019 Nobel laureate and distinguished professor at Binghamton University, has been named a fellow of the Royal Society.

AmeriCU buys building on Route 57 in Clay to establish training center
CLAY, N.Y. — AmeriCU plans to open a training center in a building it recently bought on Route 57 in Clay. The Rome–based credit union purchased the 5,202-square-foot building, located on nearly 1 acre at 7466 Oswego Road, for $550,000 from Michael Jay Associates (Ken Pacioni), according to a release from CBRE/Syracuse. Glenn Weisiger and
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CLAY, N.Y. — AmeriCU plans to open a training center in a building it recently bought on Route 57 in Clay.
The Rome–based credit union purchased the 5,202-square-foot building, located on nearly 1 acre at 7466 Oswego Road, for $550,000 from Michael Jay Associates (Ken Pacioni), according to a release from CBRE/Syracuse. Glenn Weisiger and Mark Ruprecht of CBRE/Syracuse represented the seller in this transaction. The sale closed in late December, Onondaga County property records show.
The property was formerly home to a Pawn King store. AmeriCU already operates a branch office nearby at 7474 Oswego Road.
AmeriCU has nearly 147,000 members, 18 branches, and $2.4 billion in assets, according to National Credit Union Administration data.

Chemung Financial boosts quarterly dividend by 19 percent
ELMIRA, N.Y. — Chemung Financial Corporation’s board of directors recently boosted its quarterly cash dividend by 19 percent to 31 cents a share from the previous 26 cents. The new dividend is payable on July 1, to common-stock shareholders of record as of the close of business on June 17. “We are pleased that our
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ELMIRA, N.Y. — Chemung Financial Corporation’s board of directors recently boosted its quarterly cash dividend by 19 percent to 31 cents a share from the previous 26 cents.
The new dividend is payable on July 1, to common-stock shareholders of record as of the close of business on June 17.
“We are pleased that our Company’s strong financial results have allowed us to increase our cash dividend. This continues our long history of paying uninterrupted cash dividends, and we are proud to reward our shareholders with this dividend increase,” Anders M. Tomson, president and CEO of Chemung Financial, said in a release.
At the banking company’s current stock price, the new dividend would yield about 2.8 percent on an annual basis, up from 2.3 percent for the previous dividend.
Chemung Financial (NASDAQ: CHMG) is a
$2.5 billion financial-services holding company headquartered in Elmira, which operates 31 offices through its main subsidiary, Chemung Canal Trust Company, a full-service community bank with full trust powers. Established in 1833, Chemung Canal Trust says it is the oldest locally owned and managed community bank in New York state. Chemung Financial is also the parent of CFS Group, Inc., a financial-services firm offering non-traditional services including mutual funds, annuities, brokerage services, tax-preparation services, and insurance. Chemung Risk Management, Inc., an insurance company based in Nevada, is another one of its subsidiaries.
Onondaga County hotel occupancy rate rockets higher in April from pandemic lows
SYRACUSE — Hotels in Onondaga County had significantly more guests filling rooms in April than in April 2020, which was when the COVID-19 pandemic slammed the hospitality industry the hardest, according to a recent report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county soared 152.4 percent to 46
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SYRACUSE — Hotels in Onondaga County had significantly more guests filling rooms in April than in April 2020, which was when the COVID-19 pandemic slammed the hospitality industry the hardest, according to a recent report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county soared 152.4 percent to 46 percent in April compared to just over 18 percent in the year-earlier period, according to STR, a Tennessee–based hotel market-data and analytics company.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, more than tripled (up 221.5 percent) to $39.04 in April from about $12 in the same month a year ago.
Average daily rate (or ADR), which represents the average rental rate for a sold room, rose 27.4 percent to $84.88 in April compared to under $66 in April 2020.
The strong April 2021 hotel-occupancy report follows the March result when occupancy rose more than 40 percent from a year prior. These are the first two months in which the year-over-year comparisons were to a month affected significantly by the COVID crisis. The prior 12 reports each featured double-digit declines in occupancy as the comparisons were to a pre-pandemic month.
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