MYRTLE BEACH, SC—I wrote just yesterday about one telling sign of a hot hotel market. Indeed, there was plenty of activity in the Southeast last year, from hotel acquisitions and dispositions to development.
In one of the first hotel deals of 2014, an affiliate of Los Angeles-based Integrated Capital and its joint venture partner, KBS Strategic Opportunity REIT II, picked up an ocean front hotel resort in Myrtle Beach, SC. Financial terms of the Springmaid Beach Resort's sale were not disclosed.
“This acquisition supports our ongoing growth in the hospitality industry,” says Kenneth Fearn, managing partner for Integrated. Springmaid Beach Resort sits on a quarter-mile stretch of the Atlantic ocean at the south end of Ocean Boulevard.
The resort will maintain its branding for now. Hilton Worldwide will continue to manage the hotel asset, which is being fully renovated and repositioned as a DoubleTree Resort by Hilton.
“The oversight by Hilton Worldwide confirms our commitment to superior customer service and outstanding experiences for both the leisure and business traveler,” says Integrated partner Stewart Cushman. Springmaid Pier anchors the resort, which features about 500 guestrooms, six pools, an arcade and 18-hole miniature golf course, fitness center and two restaurants.
Myrtle Beach is certainly attracting hotel investors and developers—and Hilton seems to be taking a special interest in the beach town. In November, Hilton Worldwide broke ground on a hotel project there. Hilton is building a Homewood Suites by Hilton Myrtle Beach/Oceanfront as part of a Hampton Inn Myrtle Beach/Oceanfront.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more information visit Asset & Logo Licensing.
