Delta Hotels by Marriott – Virginia Beach Bayfront Suites
Realized The 295-room Virginia Beach Resort Hotel & Conference Center (rebranded as the Delta Hotels by Marriott - Virginia Beach Bayfront Suites) is well located in the Shore Drive Corridor submarket of Virginia Beach. The hotel is the only full‐service hotel located in one of Virginia Beach’s most affluent residential neighborhoods within a three-mile radius of households with median income and median household values in excess of $101,000 and $565,500 respectively. The location along the heavily trafficked Shore Drive benefits the Hotel with close proximity to multiple marinas, providing long-term boat storage, a world-renowned tennis facility, Bayville Country Club, Little Creek Amphibious Base and many of the region’s top restaurants. Additionally, it is the only hotel in Virginia Beach which owns its own beachfront, making it ideal for both events and family vacations.
Investment Info
- Status: Realized
- Market: Hampton Roads, VA
- Property Type:
Hotel - Room Count: 295
- Lingerfelt Role: General Partner
- Strategy: Acquisition
- Sub-Strategy: Redevelopment
Investment Metrics
- Entry Date: June 15, 2018
- Purchase Price: $19,000,000
- Total Capitalization: $55,500,000
- Exit Date: June 09, 2022
- Exit Price: $82,000,000
- Hold Period: 4 Years
