Paramount Lodging Advises Burroughs and Chapin in the Sale of Marina Inn at Grande Dunes to Vista Group of Companies

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Vista Hospitality Ownership And Management Firm Has Properties Throughout Canada And The United States

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“The Marina Inn is an outstanding hotel, and we're very pleased to be able to add it to our portfolio of properties,” said Amin S. Visram, chief executive officer of The Vista Group Of Companies.

The Vista Group Of Companies acquired The Marina Inn at Grande Dunes in Myrtle Beach, S.C. from Burroughs & Chapin Company, Inc. Headquartered in Binghamton, New York and with offices in Kitchener, Ontario, Canada, Vista owns and operates hotels, shopping centers, office buildings and retirement homes throughout the Canadian provinces of Quebec and Ontario, and in the United States in New York and Florida. Vista has also owned and managed hotels in the Province of New Brunswick and the State of Nevada. The Marina Inn is Vista's first property in South Carolina.

The AAA four-diamond Marina Inn, located within the Grande Dunes Resort in Myrtle Beach, is renowned for its world-class accommodations and service. The only Myrtle Beach area hotel to be ranked among the “Top 25 Hotels in the United States” by TripAdvisor®'s 2011 Travelers' Choice Hotel Awards, it is ranked among the best hotels for meetings by Meetings South and Successful Meetings magazines. In addition, it is an Expedia® Insiders’ Select™ best hotel and its premier restaurant, WaterScapes, continually wins awards for excellence.

“It's exciting for us to be part of such a wonderful property in Myrtle Beach and the Grande Strand community. We expect to retain most of the current staff, and we're going to work hard to make this extraordinary hotel even better,” said Amin S. Visram, chief executive officer of The Vista Group Of Companies.

The Marina Inn Hotel and Condominiums at Grande Dunes offers over 230 oversized guest rooms and expansive suites with terraces from every room. Every room has a view of either the Grande Dunes marina or the Intracoastal Waterway.

“The Marina Inn is an important part of the Grande Dunes resort community,” said Jim Apple, president and chief executive officer of Burroughs & Chapin Company, Inc. “However, it is the only hotel we operate, and so it is out of sync with our other core businesses. With Vista's acquisition, we can concentrate our resources on our core businesses. Burroughs & Chapin could not ask for a better company than Vista to acquire Marina Inn. “

Visram expects the acquisition of the Marina Inn to be the first of Vista's investments in South Carolina.

“We're here to stay,” he says. “And we'll be seeking other opportunities around the state now that that we have acquired Marina Inn.”

Joe Ross and Josh Williams of Paramount Lodging advised the Seller on this transaction.

More information about the Marina Inn at Grande Dunes, can be found on Facebook or at http://www.marinainnatgrandedunes.com/press, or by calling (866) 337-4954.

About The Vista Group Of Companies

The Vista Group Of Companies is a North American-based owner and operator of hotels, resorts and other commercial properties. Headquartered in Binghamton, New York with offices in Kitchener, Ontario, Canada, Vista owns and operates properties throughout the provinces of Quebec and, Ontario in Canada, and in the United States in New York and Florida and South Carolina in the United States. Vista has received a number of awards for excellence in the management of its hotels which offer approximately 2550 hotel rooms. In addition, the company's subsidiaries own approximately a million plus square feet of shopping centers, office buildings and retirement homes. Vista offers sophisticated and modern information management systems that form the basis of a highly efficient and effective organizational and corporate structure. The Vista Management Executive Team is extremely diverse and has acquired a reputation for proven performance at all of its properties. More information is available at http://www.vistahospitality.com

About The Marina Inn At Grande Dunes

The AAA four-diamond Marina Inn at Grande Dunes is ideally situated between the Atlantic Ocean and the Intracoastal Waterway. Since it opened in 2006, it has been providing its guests with elegant, yet casual ambiance and warm personalized service. Marina Inn guests have access to a wide array of amenities including restaurants, two championship golf courses, a tennis club, and 15,000-square-feet of meeting space. It is the only Myrtle Beach area hotel to be ranked among the “Top 25 Hotels in the United States” by TripAdvisor®'s 2011 Travelers' Choice Hotel Awards. More information about the Marina Inn at Grande Dunes, can be found on Facebook, or at its website at http://www.marinainnatgrandedunes.com/press.

About Burroughs & Chapin Company, Inc.

Burroughs & Chapin Company, Inc. is a private, family-held company headquartered in Myrtle Beach, South Carolina, whose service to Myrtle Beach and Horry County spans more than a century. Burroughs & Chapin is a leader in the fields of residential, resort and commercial property development and related operations. Burroughs & Chapin’s residential developments include the award-winning Grande Dunes, a 2,200-acre four-star community. Burroughs & Chapin has created numerous commercial developments offering national and regional name brand shopping. These include Broadway at the Beach – an award-winning 350-acre festival shopping, entertainment and dining complex; Coastal Grand Mall, a one million square foot regional shopping mall joint ventured with CBL & Associates Properties of Chattanooga, Tenn.; Seaboard Commons; South Strand Commons; Arcadian Shores Commons; and many smaller “jewel box” centers. More information is available online at http://www.BurroughsChapin.com.

About Paramount Lodging Advisors

Paramount Lodging Advisors is a hotel advisory and brokerage firm specializing in the disposition of hospitality assets, acquisition, asset management, debt and equity placement across the United States, Canada, & London. For more information about Paramount Lodging Advisors, and to see hotels currently on the market visit http://www.ParamountLodging.com.

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Anna Hargraves