— Ed Denton
VIRGINIA BEACH, VA, USA, October 31, 2023 /EINPresswire.com/ — Commonwealth Lodging Management, LLC proudly announces the addition of five new properties to its management portfolio in the past month.
Duane Gauthier, Managing Director of Commonwealth Lodging, added, “We are excited to onboard several new owner clients and over 100 new associates at these hotels. Our leadership team is committed to providing a uniquely positive work environment for our staff who deliver genuine hospitality to guests in our hotels. The result is a win-win for associates, guests, and investors.”
1. SpringHill Suites by Marriott Richmond North/Glen Allen: A 136-room hotel conveniently located near shopping, restaurants, and Interstate 95 in the northside of the Richmond, Virginia market. This hotel was built in 2001 and will undergo complete modernization, updating all guest rooms and lobby and amenities to Marriott’s latest design standards for SpringHill Suites.
2. Hampton by Hilton Richmond West/Innsbrook: This 136-room hotel is situated in the Innsbrook office park, within walking distance of shops, restaurants, and offices, and just minutes away from Short Pump Mall. Recently renovated, this property features Hampton’s latest room design and has an award-winning history as one of the most desirable hotels in Innsbrook.
3 & 4. Sleep Inn and Quality Suites Norfolk Airport/Lake Wright: This dual-branded property, with 234 total rooms and 5,200 square feet of banquet/event space is located adjacent to the Premium Outlet Mall and the airport in Norfolk, Virginia, making it a short drive from Norfolk Naval Base and the Virginia Beach resort area. The property will undergo a property improvement plan to meet the latest brand standards, including updates to the lobby, guest rooms, meeting space and swimming pool.
5. Holiday Inn Richmond West: Anticipated to open in March 2024, this 141-room hotel will feature a Toast-to-Toast café and bar, 2,000 square feet of event space, an indoor pool, and an outdoor patio with fire pits. Commonwealth Lodging will manage the recruitment of the onsite leadership team and will oversee all pre-opening sales and operations.
Ed Denton, Chief Development Officer, expressed, “The addition of these hotels to our portfolio signifies a significant expansion of our Virginia footprint, aligning with our strategy to provide value-add services for investors seeking diversity, cash flow, and long-term appreciation with hospitality assets.”
Commonwealth Lodging continues with its dual-track strategy to grow its third-party management portfolio while opportunistically investing in hotels which it identifies as having strong potential for outsized, risk-adjusted returns.
About Commonwealth Lodging Management, LLC
Commonwealth Lodging, a mid-Atlantic based hospitality management and consulting firm, is a wholly owned subsidiary of Commonwealth Commercial Partners and has extensive experience with nationally recognized select- and full-service franchises operating in suburban, secondary and tertiary markets. The company specializes in focused, hands-on management of hotels for institutional clients and individual hotel owners to stabilize property management, improve cash flow and develop sell/hold strategies. To learn more, visit commonwealthlodging.com.