Located on 3.5 acres in downtown Hampton, the hotel includes 21,000 sf of retail space, 7,600 sf of flexible meeting space, a roof-top pool and a four-story, 300 car parking garage. MHI will be renovating the property over the next nine months as part of the rebranding.
This acquisition represents MHI's expansion into the Virginia market, having sold a Holiday Inn in Williamsburg to a private investor a few years ago. "With our investment in the Crowne Plaza Hampton Harborside we continue to broaden our geographic reach throughout the mid-Atlantic and southeast and to enhance our platform of full service lodging Assets," says Andrew Sims, president and CEO of MHI Hospitality.
Other properties it owns in the mid-Atlantic, according to its Web site, include the 273-key Hilton Wilmington Riverside and the Holiday Inn Laurel West, a 207-room, four-suite hotel located close to Washington, DC. In Philadelphia, it owns the Hilton Philadelphia Airport, a 331-room hotel next to the city's International airport.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
