Crestline Hotels & Resorts president and CEO Dave Durbin notes the new hotel represents the company's plan to expand its management portfolio in the growing Tidewater area. When all is said and done, the seven-story Hilton Garden Inn will offer over 2,700 sf of meeting and event space, a business center, and a fitness center. It will be one of several Hilton Garden Inn's in the Northern Virginia region.

The business hotel--which will be part of the highly anticipated public/private Virginia Beach Town Center development that is being spearheaded by Armada/Hoffler--is being partially funded to the tune of $18 million by The Endowment Fund of Hampton University. The university's loan gives it a 35% stake in the hotel.