Lingerfelt CommonWealth acquires Virginia Beach Resort Hotel & Conference Center
Lingerfelt CommonWealth Partners LLC, in a joint venture with Chicago-based JDI Realty LLC, has acquired the Virginia Beach Resort Hotel & Conference Center for $19 million.
Richmond-based Lingerfelt says the property, at 2800 Shore Drive, will undergo a $25 million renovation and be rebranded as Delta Hotels by Marriott – Virginia Beach Bayfront Suites.
Delta Hotels is Marriott’s newest, upscale, full-service hospitality brand designed for business and leisure travelers.
The hotel/conference center is located on the Chesapeake Bay on a 3.6-acre site and includes 263,328 square feet with 295 suites.
Commonwealth Lodging Management, Lingerfelt’s hotel management affiliate, will operate the hotel. “We are very excited to announce this acquisition and the rebranding of the Virginia Beach Resort Hotel and Conference Center to Delta Hotels by Marriott,” Duane Gauthier, managing director of commonwealth lodging, said in a statement.
Commonwealth Lodging plans to continue to operate the property as the Virginia Beach Resort and Conference Center until the renovation begins in the fourth quarter.
Acquisition and renovation plans were first announced last month.
The property is close to Bay Island, First Landing State Park and the Chesapeake Bay Bridge Tunnel, along with nearby retail and entertainment options.
It’s also seven miles away from the Virginia Beach Boardwalk and downtown area and eight miles from the Virginia Beach Convention Center.