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Caesars delivers $15 million payment to city of Danville
Danville city officials accepted a $15 million initial payment from Caesars Entertainment Inc. on Wednesday, the first installment of $20 million the company pledged to pay the city after receiving approval from city voters to build a $400 million casino and resort in Danville’s Schoolfield area by 2023. Las Vegas-based Ca[...]
Carly Fiorina elected chair of Colonial Williamsburg Foundation board
Former GOP presidential candidate Carly Fiorina has been selected as chair of the Colonial Williamsburg Foundation’s board of trustees. The former chairman and CEO of Hewlett-Packard, Fiorina was the first woman to lead a Fortune 20 company and made an unsuccessful bid for the 2016 GOP nomination for president. Fiorina has[...]
Va. hotel revenues remain low during increased COVID-19 restrictions
With COVID-19 cases mounting, Virginia hotel revenues continue to decline when compared with last year, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Nov. 22 through Nov. 28, hotel revenues in Virginia decreased by 34% and rooms sold declined […]
Va. Tech says ‘Cheers!’ to Fightin’ Hokies Lager
Although Hokie fans couldn’t fill Lane Stadium this year decked in maroon and orange, there’s a new tailgating trophy they can look forward to obtaining this coming spring — a licensed Virginia Tech beer, Fightin’ Hokies Lager. Virginia Tech’s College of Agriculture and Life Sciences announced Tuesday i[...]
Governor’s Inn in Williamsburg sells for $3.05M
The Governor’s Inn, a former 200-room hotel in Colonial Williamsburg, sold for $3.05 million, Cushman & Wakefield | Thalhimer announced last week. Charlottesville-based real estate investment company Castle Development Partners LLC purchased the property from The Colonial Williamsburg Foundation and plans to raze the p[...]
Hope springs eternal
Williamsburg‘s tourism-steeped economy was on track for a banner year when COVID-19 knocked it off course. Businesses, including tourist attractions Busch Gardens Williamsburg and Colonial Williamsburg shut down, William & Mary sent students home, and hotel and motel occupancy rates plummeted. As of late October, with [...]
Loudoun County launches outdoor seating grants
While COVID-19 cases run high and outside temperatures run low, the Loudoun County Board of Supervisors has allocated $250,000 in federal CARES Act funding to offset costs for outdoor dining, including seating, tents, heating systems and heating fuel, Loudoun Economic Development announced Thursday. The Loudoun Is Ready Outdoor [...]
More than 70% of U.S. hotels may not survive pandemic
As COVID-19 cases continue to rise in the U.S. and travel restrictions are reinstated, the American Hotel & Lodging Association (AHLA) projects that 71% of hotels won’t survive another six months without federal assistance, according to recent survey results. In Virginia alone, Virginia hotel revenues continued last week to stay well below pre-pandemic levels compared […]
Hilton to sell $1.9B in debt in private offering
As hotel industry revenues continue plummeting, McLean-based Hilton Worldwide Holdings Inc. announced this week it will sell $1.9 billion in debt in a private offering to institutional buyers. The hotelier will sell $800 million of senior notes (due in 2029) at a 3.75% interest rate and an additional $1.1 billion at a 4% rate. Those […]
Visit Virginia’s Blue Ridge names sales, marketing VP
Visit Virginia’s Blue Ridge (Visit VBR) announced Monday it has promoted Debora Wright as vice president of sales and marketing. With more than 25 years of experience in destination marketing, Wright will lead external outreach and brand-building for the organization. She has been with the organization since 1993, when i[...]
More than $1.9M in grants going to Va.’s tourism industry
While COVID-19 continues to slam the tourism and hospitality industries, Gov. Ralph Northam announced Monday that more than $1.9 million in matching grants will be disbursed among 161 local tourism initiatives as part of Virginia Tourism Corp.’s Recovery Marketing Leverage Program (RMLP). Although Virginia’s tourism industry had another record year in 2019, posting $27 billion […][...]
Va. hotel revenues likely to remain low through holidays
With the holiday season looming, Virginia hotel revenues continue to decline when compared to last year, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Nov. 1 through Nov. 7, hotel revenues in Virginia decreased by 53% and rooms sold […]
