HAMPTON INN
NORFOLK-NAVAL BASE

Norfolk, Virginia 

Deal Type: Acquisition 

Risk Profile: Core Plus, Value-Add

Property Type: Hotel & Hospitality 

PROPERTY OVERVIEW

Excellent Location

The Hampton Inn Norfolk Naval Base is a 117-key hotel adjacent to Naval Station Norfolk, which is home to over 60,000 military and civilian personnel. The base is the world’s largest naval air station and operates hundreds of military ship and aircraft units serving as a significant east coast command point. Demand generators within close proximity to the hotel include the Naval Station Information Center, USS Wisconsin, Old Dominion University, Sewells Point Golf Course, Nauticus Maritime Museum, and the Virginia Symphony Orchestra.

Institutional Hilton Branded Asset

Hampton by Hilton is the industry’s leading upper mid-scale brand, and for the 14th year in a row, Hampton by Hilton was named the No. 1 hotel franchise and ranked No. 9 overall on the annual list of the world’s top franchises by Entrepreneur Magazine. Every Hampton Inn and Hampton Inn & Suites is committed to the Hampton Guarantee, providing an exceptional guest experience and consistent, high-quality accommodations and amenities. All Hilton properties are backed by the Hilton Honors reward program, which boasts over 128 million members across 18 brands and more than 6,500 hotels worldwide.

Offered Below Replacement Cost

The Hampton Inn Norfolk Naval Base is being offered at a discount to replacement cost with construction costs at an all-time high. According to the 2023 HVS U.S. Hotel Development Cost Survey, constructing a limited-service hotel similar to a Hampton Inn is projected to average around $195 per key nationwide. This opportunity allows for the acquisition of a Hampton Inn property significantly below its estimated replacement value.