The Hilton Richmond Hotel & Spa/Short Pump in Henrico County, one of the Richmond regionâs largest hotel properties and meeting space venues, likely will be placed into receivership and eventually into foreclosure.
The financial problems of the 254-room hotel, which is a popular destination for meetings, events and weddings, comes as it and much of the hospitality industry suffer dramatic declines amid the coronavirus pandemic.
The noteholders of a $46.84 million loan on the hotel have asked that a special receiver be appointed to oversee operations as it prepares to sell the property at a foreclosure auction.
Shamin Hotels, which owns the Hilton Richmond Hotel & Spa/Short Pump, has agreed to have a receiver take over the property, said CEO Neil Amin.