Interstate Hotels & Resorts Forms Joint Venture to acquire Williamsburg hotel
- July 19, 2012
In a joint venture with Waramaug Hospitality LLC and a private investment group, Arlington-based Interstate Hotels & Resorts has purchased the 295-room Williamsburg Hotel & Conference Center for an undisclosed amount.
The property will undergo a $7.5 million renovation to convert it to an upscale DoubleTree by Hilton brand, and will be managed by Interstate under a long-term contract.
Located on 15 acres within the Busch Corporate Center in Williamsburg, the hotel has 45,000 square feet of meeting space and an auditorium. Other amenities include three dining options, a swimming pool, tennis courts and fitness and business center.
“This hotel offers some of the largest meeting and event space in Williamsburg, is close to all of the major historic, recreational and shopping attractions, and also serves a large nearby corporate base,” Paul Nussbaum, Waramaug’s chairman and CEO officer, said in a statement.
The deal represents the fourth project Interstate has done with Connecticut-based Waramaug in the past 17 months.