Hotel AG to Sell the Residence Inn/ Springhill Suites
Bay View II Resort - Myrtle Beach, South Carolina
JULY 28, 2008. Hotel AG, an Atlanta based hotel brokerage firm, has been engaged to sell the Residence Inn/ Springhill Suites development project in Myrtle Beach South Carolina. The project is an oceanfront development parcel approved for an 18 story, beachfront, twin tower project housing a 255 room Residence Inn and Springhill Suites by Marriott. The project is a .72 +/- acre parcel known as the Bay View II Resort that has township approval and all entitlements. The site has been approved for an 18 story 120 room Residence Inn and a 135 room Springhill Suites.
Much could be written; however the best source is the Bay View Resort web site to see the quality of Bay View I and therefore see the value potential in Bay View II. www.bayviewresort.com
The Bay View Resort is a 2 phase development known as Bay View I and Bay View II. Bay View I is an existing 18 story, 188 unit oceanfront condominium project that was completed in March 2007. As part of the Bay View Resort development, both projects required a fee deeded parking structure and therefore the existing 5 story, 590 space enclosed parking garage was completed in 2007 to serve as parking for both Bay View I and Bay View II. Bay View II Development owns 366 of the spaces and they are to be included in this sale. The development cost for the garage alone was approximately $5,700,000.
Myrtle Beach needs no introduction and is known as one of the fastest growing leisure destinations in the United States. To point, Myrtle Beach is the second highest demand leisure market in the United States, second only to Orlando, Florida. Not only was Myrtle Beach named as America's Best Family Beach by the Travel Channel, but Myrtle has also emerged as one of the top theatre, entertainment and country music destinations in the United States
The beach front development is in the high demand area on the east side of Ocean Boulevard, just south of the intersection with 6th Avenue North in the city of Myrtle Beach. The parcel for Bay View Resort II is adjacent to the existing Bay View I Resort.
Hotel AG is pleased to offer this development opportunity for $21,000,000/ 82,000 land cost per room including the parking garage, all land entitlements, city approvals and franchise approvals, etc.
For questions regarding the Bay View offering, please feel free to contact H. Keith Thompson at (770) 692-1605.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
