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Lawmakers debate human trafficking bill
RICHMOND, Va. — Legislators raised a few questions with a measure that would deploy hotel staff to help combat human trafficking. The bill introduced by Del. Shelly A. Simonds, D-Newport News, was heard Thursday in a House subcommittee. House Bill 258 would authorize the Department of Criminal Justice Services to create an[...]
Fifth District economy has moderate growth, Fed says
The Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) saw modest growth but was constrained by supply issues and labor shortages, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. The Beige Book is published eight [...]
Ore. vacation rental company buys two Va. Beach businesses
Portland, Oregon-based vacation rental management company Vacasa announced Monday it had acquired two Virginia Beach companies: Sandbridge Realty and Beach Pros Realty. Vacasa did not disclose financial details of the transactions. The acquisitions mark Vacasa’s entry into Virginia. “Virginia Beach is a highly sought-after East Coast vacation spot. …The homes managed by Sandbridge Realty and […][...]
Va. Beach vacation company acquired by Calif. company
Mill Valley, California-based Vacatia Inc. has acquired Virginia Beach-based hospitality and vacation ownership company VSA Resorts, the timeshare owner and property management services provider announced Jan. 3. Financial details of the transaction were not disclosed. VSA owns three Virginia Beach properties: Ocean Key Resort, [...]
Better together
“Cooperation” is a word Jim Noel uses a lot these days when speaking about the Greater Williamsburg region, which encompasses the city of Williamsburg and York and James City counties. As York County’s economic development director, Noel has watched as one of the most historically significant areas of the nation ha[...]
Va. hotel revenues down 19% from Nov. 2019 levels
Virginia hotel revenues in November were 19% below November 2019 levels, according to data released Wednesday by STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, hotel rooms sold decreased by 12% compared with 2019 levels. The average daily rate (ADR) paid for [...]
Construction begins on Rivers Casino Portsmouth
Chicago-based developer and gaming operator Rush Street Gaming broke ground Tuesday on Rivers Casino Portsmouth, kicking off construction of the $300 million casino and entertainment complex. Located off Victory Boulevard, the complex will have a casino, BetRivers sportsbook, restaurants, a live entertainment lounge, hotel and e[...]
Hotels hit by supply chain disruptions
Supply chain disruptions are negatively affecting business revenue for nearly three in four hotels (74%), according to survey results released Wednesday from the American Hotel & Lodging Association (AHLA). Supply chain disruptions were moderately or significantly impacting operations of 86% of respondents. More than half (5[...]
Construction begins on Hard Rock casino in Bristol
Construction has started on the Hard Rock Hotel & Casino Bristol’s temporary casino, with opening scheduled in the second quarter of 2022, Hard Rock International Inc. announced Thursday. Before its permanent casino is built, Hard Rock will build a 30,000-square-foot casino at the former Bristol Mall. It will feature 9[...]
Va. hotel revenues continue to lag from 2019 levels
Virginia hotel revenues for October were 20% below pre-pandemic levels in October 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, hotel rooms sold decreased by 13% compared with 2019 levels. The average daily rate (A[...]
Va. Beach’s Pembroke Mall to add apartments, senior living and hotel
Pembroke Mall in Virginia Beach is getting a $200 million makeover. The aging mall’s developers, Pembroke Square Associates, announced plans Monday for a series of updates to the 54-acre mall near the city’s Town Center area. “The mall industry is changing,” said Ramsay Smith, president of Pembroke Realty[...]
Rush Street Gaming announces Portsmouth casino general manager
Chicago-based developer and gaming operator Rush Street Gaming announced Monday that it has named Roy Corby as the general manager for the upcoming $300 million Rivers Casino Portsmouth. “We’re excited to expand our Rivers Casino family of market-leading destination casinos and to help launch Virginia’s new casino [...]
