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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[...]
Double play
Hampton Roads will be home to two Las Vegas-style casino complexes after Norfolk and Portsmouth voters overwhelmingly approved November 2020 referendums greenlighting the projects in their cities. The referendums passed with 64.4% of the vote in Norfolk and 66.7% in Portsmouth. The Pamunkey Indian Tribe is working with Tennessee[...]
A jackpot for Danville?
The now-blighted property that was Dan River Mills when textile was king in the city of Danville will soon morph into the gleaming, $400 million Caesars Virginia casino and resort. At one time, the 80-acre site in the Schoolfield neighborhood was the world’s largest single-unit textile manufacturing site. Now abandoned, the un[...]
Better times ahead
Catrina Mullins can picture the scene: A stage, musicians and a grassy lawn. People leaning back in chairs or sitting cross-legged on blankets on the ground, tapping their toes to familiar tunes. Others open windows to listen to the sound from their hotel rooms, which look out onto the lawn. This is what an outdoor […]
Payout on a dream
“Get it done!” Those three words sent Jason Eige and Martin Kent on a mission to bring a casino to Bristol Mall before commercial gaming resorts were even legal in Virginia. Eige, general counsel for The United Co., and Kent, the oil and gas company’s president and chief operating officer, vividly remember the day th[...]
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: Golden Nugget, Wind Creek enter proposals to build Richmond casino
Updated 3 p.m., Feb. 24 Joining at least four other groups competing to be chosen as Richmond’s choice for a casino operator, bids from two other casino companies were made public Wednesday. Houston-based Golden Nugget Hotels & Casinos has proposed a $400 million casino project about six miles from downtown, and Wind C[...]
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 [...]
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 H[...]
Business groups ask Va. lawmakers for higher PPP tax deductions
Virginia’s two legislative bodies have not yet agreed on an amount that Virginia businesses can deduct from federal Paycheck Protection Program loans they received last year, and how much of the loans they’ll have to pay state taxes on. Business groups are asking state lawmakers to allow higher deductions — especia[...]
Rush Street Gaming announces general contractor for Portsmouth casino
Rush Street Gaming, the developer and gaming operator for the upcoming $300 million Rivers Casino Portsmouth, announced Friday it has chosen a joint venture between Virginia Beach-based S.B. Ballard Construction Co. and Philadelphia, Mississippi-based Yates Construction as the resort casino’s general contractor. Ballard an[...]
Va. hotel revenues fell 42% in December 2020
Virginia hotel revenues for December 2020 were on trend for a year that saw the hospitality industry suffer from the pandemic. Compared with December 2019, hotel revenues statewide declined by 42% during December 2020, according to data released Monday from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality […]
