CHESAPEAKE, VA—LTD Hospitality Group has purchased the Studios & Suites 4 Less hotel here, with plans to fully renovate and rebrand the property by the summer of 2017. The hotel is located on Old Greenbrier Rd. at the entrance of the Chesapeake Conference Center.
“This project represents an exciting development for both future guests of this hotel as well as the vibrant Chesapeake community that supports this property,” said Neel Desai, managing principal of LTD Hospitality Group. “LTD has a long history of investing in Chesapeake, and we look forward to working with our partners as we transform this hotel into one of the premier lodging destinations in Chesapeake.
He also stated, “Additionally, LTD is in the process of developing the ground-up construction of a new extended-stay hotel in Charlottesville, VA, which is set to open in the fall of 2017. The expansion of the portfolio, coupled with the recent acquisition of a third-party management contract, illustrates that the company is well-poised with a strategic growth plan. “
LTD currently operates hotels in Virginia, Maryland, Illinois and Arkansas.