NEWPORT NEWS, VA—Mumford Company represented the affiliates of Sotherly Hotels in the sale of the Crowne Plaza Marina Hotel, Hampton, Virginia to Marina Hotel LLC, an affiliate of Shamin Hotels.
Shamin Hotels plans to renovate and transform the property with new food and beverage outlets and eclectic design. The hotel will also join Hilton’s Tapestry Collection, which consists of upscale independent hotels.
The 173-room waterfront property overlooks the historic Hampton waterfront and offers guests floor-to-ceiling views of the Hampton River and downtown. The hotel features 11,000 sq. ft. of meeting space along with an outdoor rooftop pool. It is located close to Hampton University, Fort Monroe, Hampton Coliseum, Hampton Roads Convention Center and the Peninsula Town Center.
“This transaction allowed us to help two clients achieve their asset objectives,” said David B. Mumford, principal, Mumford Company. “Sotherly shed a non-core asset while Shamin Hotels was able to achieve their objective by expanding their footprint in Southeastern Virginia and having one of the first properties approved in the new Tapestry Collection by Hilton brand.”