Lodging Partners has been retained by the owner to conduct a highly confidential and private sale of the 112-room Holiday Inn Express Myrtle Beach – Broadway@The Beach in Myrtle Beach, SC. The Hotel has an exceptional location and is in excellent condition.
Myrtle Beach, South Carolina is situated in the center of a 60-mile continuous stretch of beach known as the Grand Strand, and the area attracts over 20 million visitors annually to its beautiful beaches, excellent restaurants, golf courses, shopping, and world-class entertainment. US News & World Report recently ranked Myrtle Beach 4th in its “Top 10 Best Family Beach Vacations”. The Myrtle Beach oceanfront and tourist attractions, the healthcare sector, and Coastal Carolina University serve as stable sources of lodging demand in this area.
The Hotel has an excellent location across the street from the Broadway at the Beach entertainment complex. The Hotel is easily accessible to all major attractions, restaurants, theaters, entertainment, shopping, beaches and the area’s best golfing, fishing and charter cruise lines. The hotel is within a short distance of major area attractions, which include: the Top Golf, Wonder Works, Barefoot Landing, Broadway Grand Prix, Myrtle Waves Water Park, Legends in Concert, Pirates Voyage, Family Kingdom Amusement Park, Myrtle Beach SkyWheel, Myrtle Beach Boardwalk, The Market Common, Ripley’s Believe it or Not, and Ripley’s Aquarium.
The Property is complete with select-service guest amenities that include complimentary hot breakfast, high-speed internet, business center, fitness center, outdoor pool, and guest laundry. Guestroom amenities include free high-speed Internet access, coffee makers, hair dryers, irons, ironing boards, microwaves, minifridges, and LCD televisions. The hotel is very well-maintained and in great condition.
The Myrtle Beach market is one of America’s major Destinations. Given the long-term/permanent effects of Covid on our work and travel patterns, demographic changes within the country’s population, and the area’s proximity to major population centers, Myrtle Beach has been and will continue to be one of the hottest destinations in the USA for the foreseeable future.
The Hotel has impressive operating performance with strong cash flows and consistently achieves high index penetrations against its competitive set. The Hotel is the only Holiday Inn Express in the city limits of Myrtle Beach and gets a significant contribution from IHG for the area that attracts over 20 million visitors annually.
This Property offers significant revenue upside potential with the opportunity to implement new management strategies and improve revenue with more hands-on management and direct sales efforts. The ideal buyer will take the opportunity to continue to drive top-line revenue as the only Holiday Inn Express in the city of Myrtle Beach.
The Holiday Inn Express Myrtle Beach – Broadway@The Beach is the only Holiday Inn Express in the city limits of Myrtle Beach and gets significant contribution from the IHG reservation system.
The Myrtle Beach area attracts over 20 million visitors annually. There are over 225 hotels with approximately 30,000 rooms in the Myrtle Beach area and IHG is only represented by 2 properties, the 112-room Express Myrtle Beach – Broadway@The Beach and the 119-unit Staybridge Suites Myrtle Beach-West in this dynamic market. Myrtle Beach has been and will continue to be one of the hottest destinations in the USA for the foreseeable future. This Property offers significant revenue upside potential with the opportunity to continue to drive top-line revenue as the only Holiday Inn Express located in the city limits of Myrtle Beach that attracts over 20 million visitors annually.
Broadway at the Beach
Broadway at the Beach is a $250 million attraction on 350 acres in the heart of Myrtle Beach that features three theaters, over 20 restaurants, over 100 specialty shops and attractions, Clubs for the night, all surrounding the 23-acre Lake Broadway. The complex is divided into several distinct zones named New England Fishing Village, Caribbean Village, Charleston Boardwalk, Heroes Harbor and Celebrity Square, a warehouse district-themed nightclub that stays open later than the rest of the districts. The complex is home to many attractions, such as the Ripley’s Aquarium, Legends In Concert, WonderWorks, Hollywood Wax Museum and the Pavilion Nostalgia Park.
The Hotel is in excellent condition following a full-scale “Formula Blue” renovation/PIP that was completed in April 2018 at a cost of over $3.0 million or $26,750 per room. The renovation expanded the breakfast area, renovated all of the public spaces, corridors, guest rooms, and guest bathrooms.
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Phone: (704) 341-8488