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July 22, 2012

Interstate acquires Williamsburg Hotel & Conference Center in Virginia, US

Interstate Hotels & Resorts has announced the acquisition of the Williamsburg Hotel & Conference Center in Virginia, US, for an undisclosed amount.

By Srivani Venna

Interstate Hotels & Resorts has announced the acquisition of the Williamsburg Hotel & Conference Center in Virginia, US, for an undisclosed amount.

The 295-room property, which was previously known as the Marriott Hotel Williamsburg, will undergo a $7.5m renovation immediately as part of the conversion to the DoubleTree by Hilton brand.

The US-based global hotel management company said it will manage the Williamsburg Hotel & Conference Center under a long-term contract, which is the company’s fourth joint venture with Waramaug Hospitality and a private investment group.

Waramaug chairman and chief executive officer Paul Nussbaum said the hotel is close to all of the major historic, recreational and shopping attractions and also serves a corporate base.

"The substantial hotel renovation and repositioning, in addition to Interstate’s operations experience all offer excellent upside for this property in a rebounding market," Nussbaum added.

The Williamsburg Hotel & Conference Center, which is close to Busch Gardens, Colonial Williamsburg, the College of William & Mary and golf courses, offers easy acces to both the Richmond and Norfolk airports.

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"The 295-room property will undergo a $7.5m renovation."

Facilities offered include 45,000ft² of meeting space, which can accommodate up to 1,600 people, and an auditorium with a capacity of over 700.

The hotel also offers three dining options, an indoor/outdoor connecting swimming pool, seasonal tennis courts and a fitness and business centre.

Interstate Hotels & Resorts, a wholly-owned subsidiary of a 50/50 joint venture between subsidiaries of Thayer Lodging and Jin Jiang, along with its affiliates manages and/or has ownership interests in nearly 400 hotels with more than 70,000 rooms in North America, Europe and Asia-Pacific.

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