Interstate Hotels & Resorts has formed its fourth joint venture with Waramaug Hospitality and a private investment group to acquire the 295-room Williamsburg Hotel & Conference Center. The hotel will immediately undergo a $7.5-million renovation and convert to the DoubleTree by Hilton brand. Interstate will manage the hotel under a long-term contract. The sale price was not disclosed. Located on 15 wooded acres within the Busch Corporate Center in Williamsburg, the hotel is the closest hotel to Busch Gardens and within minutes of Colonial Williamsburg and William & Mary. The hotel has 45,000 square feet of meeting space.