ARLINGTON, VA and WILLIAMSBURG, VA., July 19, 2012—Interstate Hotels & Resorts today 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) (top left photo) for an undisclosed amount.
The hotel will immediately undergo a $7.5 million comprehensive renovation and convert to the upper upscale DoubleTree by Hilton brand. Interstate will manage the hotel under a long-term contract.
“We continue to build on our strong relationship with Waramaug, a leader in hospitality real estate investments, adding our fourth project with them in the past 17 months,” said Jim Abrahamson (middle right photo), Interstate’s chief executive officer.
“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.”
For a complete copy of the company’s news release, please contact:
Jerry Daly, Chris Daly
Media
Daly Gray
(703) 435-6293
Patrick Daly
Account Supervisor
Daly Gray, Inc.
Office: (703) 435-6293
Cell: (703) 300-8289
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