LTD Hospitality Opens Renovated Holiday Inn in Virginia
- May 08, 2018
LTD Hospitality Group has opened the Holiday Inn Newport News – City Center Hotel, a transformed 183-key hotel in Newport News, Va., the company acquired in late 2016.
Since buying the property, LTD Hospitality Group has invested significant capital to re-brand the hotel as an IHG property, renovating the guestrooms, lobby, restaurant and more than 10,000 square feet of meeting space.
“The specific appeal of the hotel was No. 1, the location, with it being within Oyster Point, which is a business park of a lot of companies, and a lot of diverse demand generators in the market,” Neel Desai, LTD Hospitality Group’s managing principal, told Commercial Property Executive. “Beyond the location, to be able to purchase and renovate a hotel well below what a replacement cost would have been for a new build and to rebrand it under the IHG flag from a cost perspective was much cheaper than a new build.”
The Holiday Inn Newport News – City Center features IHG’s newest guestroom design package and custom-designed elements, and the flexible design can adapt to each guest’s individual needs.
The hotel boasts Burger Theory, the Holiday Inn brand’s full-service restaurant concept that offers a customizable menu with more than 4,000 potential burger combinations and also a large selection of craft beers and cocktails. There’s also a grab-and-go Mariner’s Market, which offers healthy and vegan options.
“The marketplace from a timing standpoint saw RevPAR for the last two years really growing and there’s such limited additional supply that’s come into the market, it was already a full-service asset we were able to purchase,” Desai said. “The vision of LTD is the constant pursuit of getting better and we saw this as an opportunity to take a very tired asset and convert it to a brand-new full-service hotel, which is a really great addition to the city and what Newport News has needed for a long time.”
Center of the Action
The surrounding neighborhood is being enhanced and the hotel is located near numerous corporations and military installations, as well as many restaurants and retail stores. Being between Williamsburg and Virginia Beach is also appealing for leisure visitors coming throughout the year.
Additionally, the hotel offers a complimentary shuttle service allowing guests the flexibility to explore all that Hampton Roads has to offer.
In July of 2017, LTD Hospitality Group sold the 289-key, dual-branded Aloft and Element Arundel Mills in Hanover, Md., to Noble Investment Group.
Image courtesy of LTD Hospitality Group