Landmark Hotel Group LLC is working with the City of Hampton and the City’s Economic Development Authority to develop a 109-room, $11.2 million Hyatt Place hotel at the corner of Pine Chapel Road and Coliseum Drive. The upscale hotel is anticipated to open in 2018 and will be the first Hyatt-flagged hotel on the Peninsula.
The hotel aligns with the city’s strategic goals of increasing economic growth, inducing redevelopment activity in the Coliseum Central area, and boosting the number of convention-quality hotels.
According to Conventions and Visitors Bureau Director Mary Fugere, the project will support the city’s efforts to grow tourism. “This new hotel development will create additional desirable accommodations to host more visitors in Hampton. It responds to feedback we have received from meeting and convention planning professionals.”
Hampton’s Economic Development Authority has approved incentives to Landmark including a land grant and performance grants in order to induce development. These incentives are tied to timeline, investment, and project quality criteria.
The incentives were critical to the viability of this project without which this development would not have been possible. The current performance metrics of the local lodging industry created a sizable funding gap for this new development, hence the involvement of the city and its EDA. The addition of this hotel will provide additional quality hotel rooms, which will in turn attract more convention and tourism visitors resulting in increased room night consumption and city tax revenues.
Eleanor Brown, chair of the city’s Economic Development Authority, said, “This is a great opportunity for the city to work with a successful hotelier, who has already made and plans to make additional investments in Hampton, to develop much needed hotel rooms in the city. This project will help create overall economic vibrancy and generate additional direct and indirect revenue from convention travelers and tourists.”
Hyatt Place is a leading, upscale, all-suite hotel brand. Known for its stylish interior appointments, dramatic architecture, and spacious guest rooms, Hyatt Place was ranked the #1 hotel brand in the 2015 upscale category by J.D. Power and Associates.
Landmark Hotel Group is a leading hospitality company specializing in the management, ownership and development of fine hotels and mixed-use developments. Founded in 1983, the company operates in the mid-Atlantic region with over 500 associates.