With Hotels in Demand, New Owner of Middletown Goshen Residence Inn Looks to Expand
ORANGE COUNTY, N.Y.—With the growth of attractions in Orange County, hotels are in higher demand. The growing business opportunity has drawn new investment to the Middletown–Wallkill area.
Hotel investor and private banker Jim Zhang recently bought the Residence Inn by Marriott Middletown Goshen just off Route 211 in Wallkill, New York.
Zhang says he also has plans to turn the decrepit Fort Knox storage building in downtown Middletown into a new hotel. He has acquired the branding from Hilton to make it a Tapestry Collection by Hilton.
Zhang spoke to The Epoch Times about why he decided to invest in Orange County. He said attractions such as the Woodbury Commons outlet mall, Legoland, and a growing tech investment in the area makes hotels a good investment.
'I think this area could have very, very good growth for business,' Zhang said.
There is a high
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When there are tournaments or competitions at the Blue Sky Sports facility in Wallkill, people have a hard time finding rooms in Orange County even six months in advance.
'Whether it's at the fairgrounds or whether it's at the football stadium or the sports stadiums at the school district or Legoland, all of these are drivers in the tourism industry,' Middletown Mayor Joseph DeStefano told The Epoch Times. 'They benefit hotels, they benefit gas stations, they benefit the mom and pop stores. So, all of these things work together.'
Wallkill Town Supervisor George Serrano said the hotels in his town are 'always packed and we definitely need more.'
'There is so much beauty here in Orange County and my job is to make sure that people come and enjoy it,' Serrano told The Epoch Times.
Former Canadian banker and hotel investor Jim Zhang in the recently purchased Middletown Goshen Residence Inn on May 8, 2025.
Oliver Mantyk/The Epoch Times
Zhang immigrated to Canada from China in 2001. He worked for the Royal Bank of Canada in Alberta for 10 years before he relocated to Toronto to work as a private banker. In Toronto, he and his business partners bought a Hilton Hotel.
In 2018, Zhang sold the hotel in Toronto and moved to Middletown with his family when his three children started going to school in Orange County.
'I do like Orange County,' Zhang told The Epoch Times. 'This area is still big enough for big business, and we can still have a very peaceful life.'
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