401 Hospitality Ln
Myrtle Beach, SC 29579

Lodging Partners, LLC has been retained as the exclusive advisor to the sale of the 96-room Quality Inn & Suites on US-501 in Myrtle Beach. Myrtle Beach, South Carolina is situated in the center of a 60-mile continuous stretch of beach known as the Grand Strand, and the area attracts over 17 million visitors annually to its beautiful beaches, excellent restaurants, golf courses, shopping, and world-class entertainment. US News & World Report recently ranked Myrtle Beach 4th in its “Top 10 Best Family Beach Vacations”. The Myrtle Beach oceanfront and tourist attractions, the healthcare sector, and Coastal Carolina University serve as stable sources of lodging demand in this area. The Quality Inn & Suites Myrtle Beach is well located in Myrtle Beach along US-501 and just across the street from the Tanger Outlet Center. The hotel is a short distance from local nightlife and major area attractions, which include the world famous Grand Strand Beach, the Myrtle Beach SkyWheel, NASCAR Speed park, Alabama Theatre, Ripley’s Aquarium, and Family Kingdom Amusement and Water Park. The Hotel is also near Coastal Carolina University, Horry-Georgetown Technical College, Conway Medical Center, and is a short drive to the Myrtle Beach International Airport (MYR). With more than 100 nearby golf courses, exciting attractions, and scores of shops and restaurants, the Hotel is well located for guests to enjoy all that Myrtle Beach has to offer. Hotel amenities include a seasonal outdoor pool, sun deck, fitness center, business center, and guest laundry. The hotel is in very good condition and just completed a major renovation. INVESTMENT HIGHLIGHTS • Excellent location along US-501, just across the street from the Tanger Outlet Center, and within walking distance to numerous restaurants. The hotels along the US-501 corridor enjoy more demand year round then some of the other sub markets in Myrtle Beach due to their close proximity to Coastal Carolina University, Conway Medical Center, and the many businesses in the area. • For the Trailing Twelve months though December 2017, the Hotel's Competitive Set increased RevPar by over 7.0%. Revenue has increased on average 9.8% each year over the past 5 years. • Attractive owner/operator opportunity with upside potential in top-line growth, expense management, and operational efficiencies. • The PIP is completed after over $950,000 in recent renovations and the Hotel is priced at a substantial discount to Replacement Cost. UPSIDE POTENTIAL This property offers significant upside potential with more hands-on management, and direct sales efforts. The ideal buyer will be an owner-operator who takes the opportunity to drive top line revenue while remaining focused on improving operational efficiencies and achieving stronger bottom-line flow through. FRANCHISE The hotel is being offered subject to the Quality Inn and Suites franchise. Quality Inn and Suites is expected to grant a standard license agreement without any Product Improvement Plan (PIP). Prospective purchasers should contact Choice Hotels to determine current franchising application fees and terms. GUESTROOM CONFIGURATION The Quality Inn & Suites is an interior-corridor building with 96 guestrooms that feature flat panel TVs, microwave, refrigerator, coffee maker, cable television, hairdryer, ironing board and in-room safes. 50% of the guestrooms have Kitchenettes. The unit configuration of the Hotel consists of the following: 96 Rooms (86 Double Queens / 10 Kings); 48 of the guestrooms have Kitchenettes. RENOVATIONS The Current ownership spent over $950,000 ($9,900/room) in renovations over the past 6 months. The renovations included: Exterior - New Stucco and entry stone work, refinished parking lot, new landscaping and all new LED signage outside. Interior - New FF&E in all 96 guestrooms, new vinyl flooring, artwork, mattresses, drapery package, and new bedding & pillow package. Renovated all bathrooms with new floor tile, LED mirrors, vanities, and plumbing. - Renovated lobby with new floor tile, front desk, and all new cabinets, chairs, and tables in the Breakfast Area. New kitchen and equipment for the Breakfast Area - All three hallway corridors are have new carpet, vinyl flooring, and new ice machines. NEARBY RESTAURANTS There is a great selection of restaurants in the immediate area; Ruby Tuesday and Olive Garden are located near the Hotel. A number of other national and local restaurants are also located close to the Hotel, including Buffalo Wild Wings, Chili's Bar and Grill, Nervous Nellies, and Outback Steakhouse. FOR MORE INFORMATION - SEE BELOW LINK TO LODGING-PARTNERS COM