Palette Resort Myrtle Beach, SC

UNDER CONTRACT

• Fee-simple interest in the ideally situated and oceanfront, 129-room Palette Resort Myrtle Beach
• Institutionally-owned and third-party managed property offered for sale in the February 28th auction event in conjunction with RealInsight Market place
• Oceanfront property offered at a significant discount to replacement cost in the high-barrier to entry Myrtle Beach market
• Blank-slate opportunity offered unencumbered of brand management or debt
• Opportune time for investors to capitalize on the continued strength and growth in the drive-to leisure market
• Discussions have commenced with multiple brands including  Marriott, Hyatt, Wyndham, Sonesta and Choice Hotels and expect additional brands may be available
• Readily accessible to the region’s popular attractions, including Broadway at the Beach, Myrtle Beach SkyWheel, Myrtle Beach State Park, Ripley’s Aquarium, Family Kingdom Amusement Park, Barefoot Landing and Myrtle Waves Water Park
• The Myrtle Beach area boasts 90 championship golf courses, making it a premiere destination for golf enthusiasts and aficionados and will be host to the first 2024 PGA Tour event
• Proximate to Myrtle Beach’s year-round demand, including Myrtle Beach International Airport, Myrtle Beach Convention Center, Tanger Outlets Myrtle Beach, and the Grand Strand Medical Center
• Myrtle Beach is a popular U.S. and international tourist destination and a favored summer destination for residents of the Northeast and Southeast. The area welcomed approximately 17 million visitors in 2022, which contributed to $16.0B in gross sales
• U.S News and World Reports named Myrtle Beach, S.C. the fastest growing place in America for the third year in a row in 2023