119 apartment-style units, each boasting full kitchens. This 3-story structure, with interior corridors, also includes amenities such as an outdoor pool and fitness center.

Exceptional location at the heart of Myrtle Beach and offers outstanding activities from shopping and dining to amusements, entertainment and nightlife

The property is Institutionally Owned and offers Owner/operators significant potential to enhance revenue and NOI performance, surpassing current and historical levels significantly after completing a change in ownership PIP

Significant Upside Post Renovation

Following the completion of a change in ownership Property Improvement Plan (PIP), the Staybridge Suites Myrtle Beach West presents a significant potential for improvement. With a noticeable decline in RevPAR penetration index from 127.1% in 2019 to 112.3% for 2023, the property has witnessed a substantial loss in market share within its competitive set. However, with the anticipated enhancements to the property and ongoing market expansion, both RevPAR and NOI are poised to surpass current and historic levels significantly.

Upside Potential

The Myrtle Beach market is one of America’s major Destinations. Given the long-term/permanent changes on our work and travel patterns, demographic changes within the country’s population, 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 historically has had impressive operating performance with strong cash flows and consistently achieved high index penetrations against its competitive set.  The Hotel is one of only two IHG branded hotels in the city 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 one of only two IHG branded hotels in the city of Myrtle Beach.

Assumable Financing Available

Optionality to assume very attractive fixed-rate CMBS financing at a fixed rate of 5.51% with a January 2028 Maturity, 25-Year Amortization, and Approximately $9,580,000 Balance.

Myrtle Beach, nestled in Horry County, SC, stands as a vibrant coastal resort city, centrally located within the iconic 60-mile expanse of shoreline known as the Grand Strand. Renowned for its pristine beaches, culinary delights, championship golf courses, premier shopping destinations, and top-tier entertainment offerings, Myrtle Beach boasts a multifaceted economy characterized by diverse sectors.

Beyond its traditional attractions, the Myrtle Beach area hosts a dynamic economic landscape encompassing aviation/aerospace, marine manufacturing, and call center/back office industries. The region’s resilience is evident through the enduring presence of governmental and healthcare sectors, serving as steadfast pillars of its economy.

The area’s allure has attracted numerous businesses, with recent expansions by key players such as AvCraft Technical Services and Canfor Southern Pines, affirming its status as an attractive hub for growth and innovation. Myrtle Beach stands as a testament to the convergence of natural beauty, economic vitality, and endless opportunities for both residents and businesses alike.

Attractions & Landmarks

The hotel is conveniently located only minutes from the area’s beautiful beaches, Broadway at the Beach shopping, a dining and entertainment district, Ripley’s Aquarium, the Palace Theater, the Carolina Opry, the Myrtle Beach Convention Center, and the Coastal Grand Mall. Numerous golf courses are just a short drive away, which include: Tidewater Golf Club and Plantation, Surf Golf and Beach Club, Glen Dornoch Golf Club and Barefoot Resort and Golf (The Dye Club, Fazio, Norman, and Love Courses).

The Ripken Experience youth sports complex stands as a top-tier baseball tournament venue, attracting teams nationwide to Myrtle Beach and is located 1.25-miles from the Hotel. Paying homage to Baseball Hall of Famer Cal Ripken, this expansive facility comprises four regulation-size diamonds and five youth/softball fields, each meticulously crafted in the likeness of iconic MLB ballparks.

Surfworks Myrtle Beach, set to become South Carolina’s inaugural man-made surf park, American Surf Park, is poised to redefine the coastal landscape. Boasting a surfing lagoon capable of producing up to 1,000 waves per hour, ranging from 2 to 6 feet in height, the development promises an exhilarating aquatic experience. Complementing the surf offerings, the project will feature an expansive amphitheater accommodating up to 15,000 spectators, alongside amenities such as a surf school, a restaurant, and a brewery. With preliminary renderings already in place, anticipation mounts as construction progresses towards its slated completion in 2024.

Restaurants

The Myrtle Beach area is home to over 1,800 restaurants that serve up everything from Calabash style seafood to fresh sushi and ethic offerings. There is a great selection of restaurants in the immediate area, including the following: American Tap House, Bar Louie, Carolina Ale House, Dave & Buster’s, Extreme Pizza, Good Time Charley’s, Hard Rock Cafe, Jimmy Buffett’s Margaritaville, Joe’s Crab Shack, King Kong Sushi, Landry’s Seafood, Paula Deen’s Family Kitchen, Rooster’s Restaurant & Bar, Senor Frog’s, Southern Grill, Sweet Carolina’s, The Grumpy Monk, The Hangout Wahlburgers, Wet Willie’s, and Yamato Steakhouse.

Tourism 

Myrtle Beach’s economy thrives on its vibrant tourism industry, annually generating millions of dollars. Positioned within a day’s drive for much of the nation’s population, Myrtle Beach offers an enticing array of attractions, including over 80 golf courses, diverse amusements, nationally acclaimed theaters, abundant shopping options, and a vast selection of dining venues. With an impressive average of 215 sunny days per year, Myrtle Beach stands out as one of the premier beach destinations on the East Coast.

Drawing over 20 million visitors annually, the Myrtle Beach area plays a pivotal role in Horry County’s economy, with approximately 65 to 70 percent of local employment linked to tourism-related services. Highlighted by its renowned sixty-mile stretch of shoreline, known as the Grand Strand, Myrtle Beach has earned accolades such as “The World’s Best Beach” by Yahoo! Travel and recognition as a “Favorite Beach Town” by Southern Living readers.

Recognized as one of the top family vacation destinations on the East Coast, Myrtle Beach embraces visitors with its trademark Southern hospitality. In addition to its pristine beaches, the area offers an abundance of activities ranging from golf and entertainment to shopping and special events, including popular bike rallies and spring break festivities. The average visitor enjoys a leisurely stay of five days along the Grand Strand, while business travelers typically spend three days.

Renowned as the “Golf Capital of the World,” Myrtle Beach boasts a formidable golfing industry, featuring over 86 regulation courses and more than 50 miniature golf courses. Golf enthusiasts flock to the region, with approximately 4.2 million rounds played annually, contributing significantly to South Carolina’s recreational revenue. Seven regional courses have earned distinction among Golf Digest’s “Top 100 Public Courses in America.”

Local authorities and the Myrtle Beach Area Convention and Visitors Bureau anticipate continued tourism growth, fueled by sustained economic expansion. With over 71% of visitors staying for four to seven nights, the Grand Strand attracts a diverse range of tourists, with North Carolina, South Carolina, and Virginia comprising the top states of visitation, followed by Ohio, Pennsylvania, Georgia, New York, Maryland, Tennessee, and West Virginia.