One of the country’s largest conference centers, The National Conference Center in Leesburg, Va., was acquired today by NCC PS Enterprises LLC, a venture between an affiliate of PCCP LLC — an integrated real estate finance and investment management firm — and affiliates and principals of Stoneleigh Capital LLC, a private equity investment company.
Although they did not release details, NCC PS Enterprises and Stoneleigh Capital said they plan to enhance the property with a “capital improvements” to “all aspects of the property.”
“We are very excited about the future of The National Conference Center,” Frank D. Palmer, managing director of Stoneleigh Capital, said in a statement. “We’re looking forward to completing a program of capital improvements that are proposed to enhance the guest experience.”
Its new owners have appointed LaKota Hotels & Resorts to direct daily operations, management and marketing of The National Conference Center, which offers 917 guest rooms and over 250,000 square feet of meeting space, including the largest ballroom in Northern Virginia.
“We look forward to quickly addressing capital improvements and implementing a targeted customer communication campaign,” said Sam Haigh, president and CEO of LaKota Hotels & Resorts. “We are confident that these initiatives will significantly enhance the guest experience and help to increase the business to levels commensurate with those of one of the nation’s premier training, conference, and catering destinations.”
According to NCC PS Enterprises and Stoneleigh Capital, LaKota Hotels & Resorts will assume management of The National Conference Center “on or about” May 16, 2014.
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