Management company Springboard Hospitality has added two new hotels to its portfolio, The Sandcastle Oceanfront Resort at the Pavilion and The Sandcastle Oceanfront Resort South Beach in Myrtle Beach, SC, with a combined 410 rooms. This news marks Springboard Hospitality’s expansion into the Palmetto State.
“We’re thrilled to welcome these two oceanfront resorts to the Springboard Hospitality family as we expand our presence across the southeast U.S.,” said Ben Rafter, CEO, Springboard Hospitality. “With Myrtle Beach being a popular family vacation destination and receiving 19 million visitors annually, we look forward to transforming both properties with refreshed guestrooms and public spaces and bringing in our expert team and best-in-class technology.”
The Sandcastle Oceanfront Resort at the Pavilion sits on the beach and has two swimming pools and a lazy river. The Sandcastle Oceanfront Resort South Beach offers indoor and outdoor pools, an oceanfront lawn area and poolside cabana bar.
Springboard Investment Advisors LLC (SIA), advised on structuring the hotel’s management contract and co-investment alongside Los Angeles-based Hybridge Capital Management. SIA provides capital solutions and invests in properties in multiple U.S. markets, expanding Springboard Hospitality’s capabilities beyond management solutions.
“Alongside Springboard Hospitality and sponsor partners, Springboard Investment Advisors has executed over $200 million in hotel acquisitions and renovations over the last three years,” said Sean Williams, chief development officer, Springboard Hospitality. “Together with Hybridge, we are excited to begin the next chapter for the two Sandcastle resorts.”