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June 11, 2014

Hilton Garden Inn Debuts on Virginia Beach Boardwalk

By Adrian Maties, Associate Editor

As summer vacation season gets under way, the Virginia Beach hospitality market has a fresh addition: the Hilton Garden Inn Virginia Beach Oceanfront.

Located on the Virginia Beach Boardwalk, the 167-key hotel is convenient to dining, shopping, entertainment, water activities and a variety of attractions. Among its guest rooms are 24 oceanfront suites with private balconies. Gateway Investments L.L.C. owns the property, which is managed by Professional Hospitality Resources Inc.

Guest amenities include free Wi-Fi, a 24-hour business center, a state-of-the-art fitness center, indoor and outdoor pools, and two oceanfront restaurants, Lager Heads and the Garden Grille. The hotel also features 5,000 square feet of flexible function space and a 3,000-square-foot conference room overlooking the Atlantic Ocean.

“Hilton Garden Inn Virginia Beach Oceanfront is a great addition to the iconic boardwalk,” General Manager Stefano Reyes said in a statement. “Guests will enjoy our upscale, all oceanfront rooms and spacious suites, and our expansive sundeck overlooking the ocean really sets us apart from the competition.”

The hotel opens as owners are hopeful of a better year in 2014. Marcus & Millichap Real Estate Investment Services Inc. notes that the Mid-Atlantic hospitality market experienced a disappointing 2013. Occupancy was 60.1 percent, a year-over-year decrease of 90 basis points. In particular, the state of Virginia registered sizable declines in room nights and occupancy due to a pullback in government-related demand and reduced household spending.  Average RevPAR in Virginia declined 2.4 percent to $55.69 in 2013, the largest drop in the Mid-Atlantic region.

Image: www.hiltongardeninnvirginiabeach.com
Charts courtesy of Marcus&Millichap.
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