Friday, April 12, 2024

Former Williamsburg Hotel Sold; Will be Rebranded

Cushman & Wakefield | Thalhimer reports that the former Park Inn by Radisson Hotel on Richmond Road in Williamsburg has been sold and will undergo renovations and rebranding (Courtesy of Cushman & Wakefield | Thalhimer)

WILLIAMSBURG — The former Park Inn by Radisson Hotel in Williamsburg has been sold.

On Thursday, March 3, Cushman & Wakefield | Thalhimer reported that the hotel, which is located at 2007 Richmond Rd., was sold to The Tapestry Group, Inc., in partnership with SBG Richmond Road, LLC, for a total consideration of $4,470,000. This transaction was an Internal Revenue Service (IRS) Section 170 Bargain Sale transaction.

The hotel includes 122 rooms and, under the Park Inn by Radisson name, boasted an indoor pool.

Cushman & Wakefield | Thalhimer stated that the property’s new owners plan to renovate the hotel and rebrand it as a Wingate by Wyndham hotel.

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