Affiliates of US-based private equity manager Paceline Equity Partners has acquired full-service Delta Hotel Virginia Beach Bayfront Suites on the northern coast of Virginia Beach, US.

This transaction marks Paceline’s second strategic partnership with BlackPearl Capital, a company with experience in hospitality operations and investments.

According to Paceline, the all-suite product of the Delta Hotel caters to Virginia Beach’s drive-to-leisure market, which witnesses more than 19 million visitors every year.

Paceline CEO Sam Loughlin said: “The Delta Hotel Virginia Beach Bayfront Suites represents our first full-service hospitality investment in a dominant drive-to-leisure market and eighth hotel in our expanding real estate portfolio.

“The hotel quickly experienced strong bookings upon completion of the recent renovation and conversion, demonstrating how well-positioned the property is to capitalise on continued consumer demand for leisure travel in the mid-Atlantic.”

An all-suite property, the Delta Hotel is located 16km from Virginia Beach and Atlantic Ave.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The hotel operates its own beachfront and features 295 rooms and around 12,000ft² of meeting space.

Built in 1986, the hotel completed a comprehensive rebranding, renovation and conversion work in 2021.

The property includes a fitness centre, two restaurants, an outdoor pool and provides a direct access to the private beachfront area.

Paceline chief investment officer Leigh Sansone said: “Paceline’s acquisition of the Delta Hotel Virginia Beach Bayfront Suites further highlights our ability to leverage our strategic partner relationships to continue to grow our portfolio through the acquisition of well-positioned, high-quality assets at an attractive entry point.

“We are excited about the growth opportunities within the Virginia Beach submarket over the next several years and the hotel’s ability to capitalise through its unique physical location and mix of amenities that cater to a wide variety of guests.”