Located at 8 Crawford Parkway along the Elizabeth River, thefour-story, 157,000-sf hotel sits on a 3.6-acre parcel and features8,000 sf of banquet and meeting space, a business center, and afitness facility. The new owners are obliged to run the property asa Holiday Inn for the next four years, but the Downtown locale'sfate beyond that point could involve redevelopment.
The new owners are toying with the idea of eventuallydemolishing the building and replacing it with, perhaps, a newboutique hotel establishment. Until that time comes, however, theGreater Portsmouth Development Corp. says it will be business asusual at the hotel, and that renovations initiated by the previousowner will continue.
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