The decline of mom-and-pop hotels in Virginia Beach – The Virginian-Pilot

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 Vakos, 58, who has owned and operated The Oceanfront Inn for 33 years.

He leans back, occasionally glancing outside the window where tourists pedal by on four-wheel Surrey bikes. Beyond the Boardwalk, Vakos can see waves unfurling over the sand. The existence of owner-operated hotels like his are becoming a rarity.

Of the roughly 75 hotels within walking distance of the beach, only a handful of mom-and-pop hotels that once prevailed in the Virginia Beach resort area remain. Most hotels are owned by local hospitality companies that operate under franchise agreements brandishing familiar names such as Hilton, Doubletree and Marriott. A few are owned by large, out-of-town investment firms that hire third party management companies to operate them.

Less than 10% are mom-and-pops,…