Located on 3.5 acres in downtown Hampton, the hotel includes21,000 sf of retail space, 7,600 sf of flexible meeting space, aroof-top pool and a four-story, 300 car parking garage. MHI will berenovating the property over the next nine months as part of therebranding.
This acquisition represents MHI's expansion into the Virginiamarket, having sold a Holiday Inn in Williamsburg to a privateinvestor a few years ago. "With our investment in the Crowne PlazaHampton Harborside we continue to broaden our geographic reachthroughout the mid-Atlantic and southeast and to enhance ourplatform of full service lodging Assets," says Andrew Sims,president and CEO of MHI Hospitality.
Other properties it owns in the mid-Atlantic, according to itsWeb site, include the 273-key Hilton Wilmington Riverside and theHoliday Inn Laurel West, a 207-room, four-suite hotel located closeto Washington, DC. In Philadelphia, it owns the Hilton PhiladelphiaAirport, a 331-room hotel next to the city's Internationalairport.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
