Changing hands: The decline of mom-and-pop hotels in Virgini

VIRGINIA BEACH — Among the piles of paperwork rising from Andy Vakos’ desk behind the lobby of The Oceanfront Inn, there are two offers to buy his hotel. It seems hardly a day goes by he doesn’t get a call from investors asking if he wants to sell. His seven-story beachfront property spans a full city block, with 147 rooms, just south of the King Neptune statue. “They’re very aggressive,” said ...

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