With Hotels in Demand, New Owner of Middletown Goshen Residence Inn Looks to Expand

Canadian banker Jim Zhang has purchased a major hotel in the Middletown–Wallkill area, with plans to build a new hotel downtown.

The Residence Inn by Marriott Middletown Goshen was recently purchased by former banker Jim Zhang, in Wallkill, N.Y., on May 8, 2025. Oliver Mantyk/The Epoch Times

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 state Route 211 in Wallkill, New York.

Zhang said 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 Common outlet mall and Legoland and 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 demand for hotels in Orange County, and they are often booked out during the tourist season, according to Orange County Tourism Director Amanda Dana.

When there are tournaments or competitions at the Blue Sky Sports Complex 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 that Wallkill definitely needs 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, Canada, 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. 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.”