1755 Highway 17 N
North Myrtle Beach, SC 29582
Rodeway Inn North Myrtle Beach · Hospitality Property For Sale · 40,082 sq ft

HOTEL IS UNDER CONTRACT - Lodging Partners, LLC has been retained as the exclusive advisor to the sale of the 60-room Rodeway Inn North Myrtle Beach. North 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 Hotel is well located in North Myrtle Beach along US-17 just north of Barefoot Landing and only minutes from the area’s beautiful beaches. The Hotel is easily accessible to all major attractions, restaurants, theaters, entertainment, shopping, beaches and the area's best golfing, fishing and charter cruise lines. The hotel is within a short distance of major area attractions, which include: the Alabama Theatre, Barefoot Landing, Carolina Opry, House of Blues, SunCruz Casino, Dolly Parton’s Pirate's Voyage, Ripley’s Believe It or Not! Museum, and the North Myrtle Beach Park and Sports Complex. Hotel amenities include a seasonal outdoor pool, sun deck, fitness center, business center, guest laundry, and two outdoor grills. The hotel is in very good condition and recently completed a major renovation to all the guest bathrooms. Property Highlights: * 60 guestrooms - very easy to operate & ideal size for an owner-operator * Two-story, interior corridor building constructed in 1996 * Meeting room/exercise room, and seasonal outdoor swimming pool * Recently renovated, Well-maintained facility Investment Highlights: * Well located along US-17, near area attractions, which include local beaches, the Alabama Theatre, Barefoot Landing, Carolina Opry, House of Blues, SunCruz Casino, and the North Myrtle Beach Park and Sports Complex. * Possible branding options include conversion to Country Inn & Suites, Red Roof Inn, SureStay, Baymont and Econo Lodge. * Very attractive owner/operator opportunity with strong upside potential in rate and occupancy, top-line growth, expense management, and operational efficiencies. Offered at $50,000 per Room, which represents a unique opportunity to enter this market at a substantial discount to Replacement Cost. Upside Potential: * Numerous branding options are available to reposition the Hotel to increase revenues. * The Hotel is currently operated by a large management company. Replacing absentee out of state ownership with more hands-on management and adding direct sales efforts should assist in increasing Revenues and Profit Margins. * The ideal buyer will be an owner-operator who takes the opportunity to continue to drive top-line revenue while remaining focused on improving operational efficiencies and achieving stronger bottom-line flow through. The North Myrtle Beach Park and Sports Complex is a very large room night demand generator in the area. The Rodeway Inn North Myrtle Beach is one of the closest hotels, and is located approximately 3.2 miles from the facility. This new state-of-the-art sports park encompasses 163 acres as well as a 25-acre lake. There are 2 sports complexes within the park that are separated by a span of 2.8-mile of walking trails. It features 4 regulation youth baseball/collegiate softball fields, 2 regulation high school/collegiate baseball fields, 8 regulation soccer/lacrosse fields and eight batting tunnels. Supporting facilities include an umpire/officials room, misting fans in each dugout, concession areas, seven picnic areas, three playgrounds, an amphitheater, a 25-acre lake for water-related activities, and a 10-acre meadow. The Complex also has a number of other adventures which include the GoApe Zip Line & Treetop Adventure, 3 playgrounds, 7 picnic shelters, a 25-acre lake with a jetpack, and various activities at the amphitheater that seats 2,000. The fields regularly host tournaments that draw from areas along the East Coast and across the country. There is a great selection of restaurants in the immediate area. Outback Steakhouse and K&W Cafeteria are located adjacent to the Hotel. A number of other national and local restaurants are also located close to the Hotel, including Bonefish Grill, Carrabba's Italian Grill, Hooter's, Oscar's Bar & Grill, Overtime Sports Cafe, Benny Rappa's Trattoria, and The Spanish Galleon.