4/25/2008

MHI Hospitality buys Virginia Radisson

by Michael Wayne

The former Radisson Hotel in Hampton, Va.

MHI Hospitality Corporation has acquired the former Radisson Hotel in Hampton, Va., for $7.75 million. The seller was Hampton Economic Development Corp., according to Hampton property records.

The hotel, which sold for $45,000 per room, is located at 700 Settlers Landing Rd. It sits on 3.5 acres and contains 172 rooms. The property also features 21,000 square feet of retail space, 7,600 square feet of meeting space and a 300-car garage.

MHI plans to brand the hotel as the Crowne Plaza Hampton Harborside. The firm has entered into a 10-year franchise agreement with InterContinental Hotels Group through its franchising entity, Holiday Hospitality Franchising, Inc.

Address: 700 Settlers Landing Rd., Hampton, Va.

Size: 172 rooms

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Filed Under: Hotel/Resort

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