The Opportunity
Lodging Partners, LLC is pleased to offer for sale the 129-unit Palette Resort, a prominently positioned oceanfront Boutique hotel located in the heart of Myrtle Beach, South Carolina. Situated along the iconic Grand Strand, a 60-mile stretch of uninterrupted coastline, the area welcomed approximately 18.2 million visitors in 2024, drawn by its scenic beaches, acclaimed restaurants, premier golf courses, shopping, and world-class entertainment.
Positioned on a highly visible site along South Ocean Boulevard, the resort is steps from the Myrtle Beach Boardwalk and Family Kingdom Amusement Park, and a short drive to Broadway at the Beach, Myrtle Beach International Airport, and the Convention Center. Its central beachfront location makes it a premier destination for leisure travelers and a compelling investment with strong upside potential.
The hotel features select-service amenities, including three outdoor pools, a lazy river, fitness center, and complimentary laundry. All guest suites include kitchenettes with full appliances, high-speed internet, flat-screen TVs, and other extended-stay conveniences.
With strong in-place demand, a central location, and brand conversion approval, the Palette Resort presents a rare value-add opportunity in one of the East Coast’s most resilient coastal markets.
Property Highlights
129 All-Suite Units – Apartment-style accommodations with kitchenettes (stovetops, microwaves, refrigerators, ovens)
Prime Oceanfront Location – Direct beach access along South Ocean Boulevard
Unmatched Accessibility – Walkable to attractions and minutes from the airport and Convention Center
Well-Appointed Amenities – Interior corridor hotel with three outdoor pools, lazy river, fitness center, and guest laundry
Investment Highlights
Brand Conversion Opportunity – The Hotel offers strong repositioning potential with several prospective brand options, including Garner, City Express, Spark (PIP available in the Data Room), TRYP, and La Quinta—each providing a path to elevate market positioning and long-term value. Key Money incentives may also be available.
Pre-Approved Conversion – The Hotel is pre-approved for conversion to Comfort Inn & Suites. Upon conversion, the property would become the only oceanfront Choice Hotels franchise in the Myrtle Beach market (PIP in DataRoom).
Attractive Basis – Offered significantly below replacement cost
Operational Upside – Significant potential for rate growth, improved occupancy, and management efficiencies
Extended Seasonality – Longer stays are driving off-peak demand and revenue growth
Significant Upside Post Renovation
The property presents substantial value-add potential through brand repositioning and operational enhancements. With multiple brand conversion options available, the Hotel offers a compelling opportunity to elevate its market positioning and long-term value. Additional upside can be achieved through the implementation of resort fees, paid parking, and food & beverage offerings. Following a full renovation, the asset will be well positioned to realize meaningful increases in RevPAR and NOI.
Upside Potential
Myrtle Beach continues to be one of the nation’s top leisure destinations, supported by shifting travel behaviors, population growth, and proximity to major metro areas. With targeted management, improved marketing, and pricing strategies, the Palette Resort offers significant room to grow revenues and profitability. Its beachfront setting and extended-stay amenities provide a solid foundation for repositioning and long-term success.
Location
Market Overview
Located in Horry County, Myrtle Beach anchors the Grand Strand and is known for its beaches, entertainment, shopping, and golf. The local economy is anchored not only by tourism but also by aviation, aerospace, marine manufacturing, healthcare, and government sectors.
Business Climate
The area attracts new industries thanks to its infrastructure, lifestyle, and strategic location. Recent corporate investments include AvCraft Technical Services and Canfor Southern Pines.
Tourism
Tourism supports 70% of regional jobs and draws over 20 million annual visitors. The area enjoys 215+ sunny days per year and features over 80 golf courses, shopping centers, and family attractions.
National accolades include:
• Top 10 U.S. Beach Destination – TripAdvisor
• Top Family Vacation Spot – U.S. News & World Report
• Among Fastest-Growing Metros – U.S. Census Bureau
Convention Center
The 249,000 SF Myrtle Beach Convention Center attracts 250,000+ annual visitors and hosts major year-round events.
Restaurants
Myrtle Beach offers over 1,800 dining options. Nearby favorites include The Grumpy Monk, RipTydz, Pier 14, River City Café, and Sea Captain’s House.
Attractions & Landmarks
• Broadway at the Beach
• Ripley’s Aquarium
• Palace Theater
• Carolina Opry
• Coastal Grand Mall
• Barefoot Resort, Tidewater & Glen Dornoch Golf Courses
Key Demand Generators
• Topgolf Myrtle Beach
• SkyWheel Myrtle Beach
• Ripley’s Believe It or Not!
• Family Kingdom Amusement Park
• Dunes Golf & Beach Club (PGA TOUR host)
• Myrtle Beach State Park
• Apache Pier (longest wooden pier on the East Coast)
• Alligator Adventure
• Ripken Experience youth tournament complex
Transportation & Infrastructure
Myrtle Beach benefits from strategic access via U.S. Highways 17 and 501, connecting to I-95, Wilmington, and Charleston. Future interstate connections (I-73, I-74) will enhance regional connectivity. Horry County has invested $1.7 billion in infrastructure over the past decade, with $450 million more planned.
Myrtle Beach International Airport (MYR)
Offers 50+ nonstop flights and is served by eight major airlines. A $118 million terminal expansion and ongoing $100M+ improvements are propelling MYR to be one of the Southeast’s fastest-growing airports.
Summary Investment Thesis
The Palette Resort presents a unique opportunity to acquire a 129-unit, all-suite, oceanfront boutique hotel located in Myrtle Beach, a high-growth, year-round tourism market. With multiple brand conversion options and potential Key Money incentives, this value-add asset is well-positioned for long-term growth and enhanced value creation. Myrtle Beach’s tourism resilience, infrastructure expansion, and year-round appeal support a compelling value-add investment strategy.
Photo Tour
ADVISORS
Brokerage team
