Tidewater Hotels & Resorts sold it's hotels in Virginia Beach. It held over one-third of the rooms at the Oceanfront. http://hamptonroads.com/2008/06/hotel-chain-sold-deal-transfers-operations-third-oceanfront-rooms
My huge concern here is how well can Barcelo Crestline compete with Professional Hospitality Resources (PHR)? For a free market to work there has to be effective competition. To it's credit, PHR has been upgrading the overall product in the Resort Area. Can Barcelo Crestline keep pace?
The hospital monopoly has brought a decline in health care quality to Virginia Beach. May the same thing not happen with the top drawer hotel rooms at the Oceanfront.