Interstate buys Virginia hotel via JV

Interstate Hotels & Resorts has announced that it has formed its fourth joint venture with Waramaug Hospitality LLC and a private investment group and acquired the 295-room Williamsburg Hotel & Conference Center (formerly the Marriott Hotel Williamsburg) for an undisclosed amount.

The hotel will immediately undergo a US$7.5 million comprehensive renovation and convert to the upper upscale DoubleTree by Hilton brand. Interstate will manage the Williamsburg, Virginia, hotel under a long-term contract.

“With the planned renovation and rebranding, in addition to an ideal location close to significant demand drivers, we expect the hotel to take a leadership position in this market,” said Jim Abrahamson, Interstate’s chief executive officer.

Exterior of the Williamsburg Hotel & Conference Center
Exterior of the Williamsburg Hotel & Conference Center