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Yorktown’s Duke of York Hotel sells for $3M
The Duke of York Hotel in Yorktown sold for $3 million, M.A. Bowry & Co. announced July 2. Built in 1965, the 57-room, 26,084-square-foot, limited-service hotel is located on the York River. It will remain open as the company renovates it. Crockett Enterprises LLC sold the hotel to a limited liability company connected to M.A. […]
Va. hotel revenues still lagging pre-pandemic levels
Virginia hotel revenues for June 2021 were down 22% compared with pre-pandemic levels in June 2019, according to newly released data from STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, rooms sold decreased by 14%. The average daily rate (ADR) paid for hotel rooms […]
Va. hotel revenues increased by 178% in May
Virginia hotel revenues for May 2021 increased by 178% compared with May 2020, according to data released Tuesday by STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, rooms sold went up by 96%. The average daily rate (ADR) paid for hotel rooms rose 42% […]
Petersburg sues to demolish old Ramada
The city of Petersburg filed a lawsuit Friday against the company owned by developer and former NFL player Chris Harrison, who promised in 2015 to replace the city’s shuttered and dilapidated Ramada Inn with a brand-new hotel, 100 apartment units and retail space. Six years later, redevelopment has not taken place. In Friday’s filing, Petersburg […]
Shamin Hotels purchases Va. Beach Hampton Inn
Chesterfield County-based Shamin Hotels has purchased the 120-room Hampton Inn property on Virginia Beach’s Oceanfront, Grand Bay Advisors, which represented the seller in the transaction, announced Friday. The sale amount was not disclosed, but the land and building are assessed at $20.6 million, according to city records. Norfolk-based Grand Bay said in a news release […]
Va. hotel revenues up 12% in March
Virginia hotel revenues for March 2021 increased by 12% compared with March 2020, according to data released Tuesday by STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, rooms sold went up by 25%. The average daily rate (ADR) paid for hotel rooms dropped 10% […]
Hotel revenues down 39% in February
Virginia hotel revenues for February 2021 declined by 39% compared to February 2020, according to data released Thursday by STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, rooms sold declined by 23%. The average daily rate (ADR) paid for hotel rooms dropped 21% to […]
Hampton Inn & Suites in Newport News sells for $9M
Chester-based Shamin Hotels has purchased a 120-room Hampton Inn & Suites in Newport News for $9 million. Shamin purchased the hotel, which it plans to renovate, from Yoder Inn Group LP as an investment. Located at 12251 Jefferson Ave. on approximately 2.65 acres, the hotel consists of 90 rooms and 30 two-room suites. Shamin, one […]
Richmond confirms six eligible bids for casino, seeks public input
Place your bets. Richmond Mayor Levar Stoney’s office confirmed Friday that the six casino proposals made public this week all submitted proposals that are eligible for consideration by Richmond City Council and voters. The city also revealed the proposed locations for all six plans. Bally’s Corp. and Golden Nugget Hotels & Casinos are interested in […]
Hotel revenues down 27% for January
Virginia hotel revenues for January 2021 were down 27% compared with January 2020, continuing the industry’s slow climb back to recovering from the economic impact of the coronavirus pandemic, according to data released Thursday from STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. For the same period, rooms […]
UPDATED: Richmond now has six major casino proposals
Updated Feb. 26 The city of Richmond is now considering six casino proposals, the mayor’s office announced Friday. Monday afternoon was the city’s deadline for its request for proposals, and all six submitted were deemed eligible. Starting next month, Richmond will hold public meetings with opportunities for citizen input. In addition to the Pamunkey Indian […]
Short Pump Hilton enters receivership
The Hilton Richmond Hotel and Spa in Short Pump has entered receivership after its owner, Shamin Hotels, fell behind on loan payments, according to documents filed in Henrico County Circuit Court. In an order dated Jan. 21, Fairfax-based based Crescent Hotel Management Services LLC was named special receiver for the Short Pump Hilton, which was […]
