About This Portfolio Item

This hotel was bought while in receivership. It was originally identified as it held long term value as it encompassed 5 acres at the busiest intersection in South Carolina in the Charleston Airport Market.  It was an aging product that had operated under several franchise flags. Homecourt Hospitality closed the hotel after purchase with an initial plan to remove the building and build new. Further analysis proved that some value remained in the structure.  The hotel was shuttered, demolished to the original concrete brick and foundation and rebuilt as a 149 room Doubletree by Hilton with 6700 square feet of meeting space.  The all in cost was significantly less than industry standard.  The cash flow from operations continues to provide investors with returns well above average.  The development has been sited as an incredible feat in redevelopment winning awards including an industry design award and an Outstanding Achievement Award from Hilton Hotels.