MYRTLE BEACH, S.C., Dec. 6, 2021 /PRNewswire-PRWeb/ -- Hotel developer and management company Innisfree Hotels, in partnership with RREAF Holdings, announces its recent acquisition of the Holiday Inn Oceanfront, located in Surfside Beach, South Carolina.
"RREAF owns several beachfront hotels in the Southeast, and continues to actively seek out similar opportunities in the region," says Rob Steinwedell, Director of Hospitality Acquisitions, Dallas-based RREAF Holdings. "Our investment thesis is built on the belief in a strong recovery from the COVID crisis while catering to the local community by providing excellent accommodations at affordable prices."
The full-service six-story, 133-room hotel includes 4,500 square feet of meeting space, an outdoor pool, an on-site bar, and a fitness center. Having recently undergone a $7 million renovation, the Surfside hotel—along with its hands-on experienced management team—is more than equipped to welcome leisure guests as well as corporate groups and weddings.
"Innisfree is proud to offer a peaceful respite along the shores of one of the east coast's most sought-after beaches," said the company's CEO Ted Ent. "With close proximity to the International Club of Myrtle Beach, Coastal Grand Mall, and Myrtle Beach International Airport, the Holiday Inn Oceanfront is ideal for a romantic destination or a family gathering."
Because of its vacation destination appeal, Myrtle Beach attracts more than 17 million visitors annually. Tourism has an estimated impact of $7 billion on the community, with an additional $2.2 billion in labor impact. A direct oceanfront hotel, the Holiday Inn is located within a short distance to many of Myrtle Beach's top attractions, as well as several oceanfront restaurants and retail destinations.
"Surfside Beach offers the best of Myrtle Beach," said Ent. "Representing the hub of the Grand Strand, the destination includes scenic campgrounds, waterside piers, baseball fields, and local wildlife."
The Holiday Inn Oceanfront is now accepting bookings through the end of 2022. For more information, visit https://www.ihg.com/holidayinn/hotels/us/en/surfside-beach/myrsb/hoteldetail. To learn more about Innisfree's book of properties, head to https://innisfreehotels.com/.
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About Innisfree Hotels:
For more than three decades, Innisfree Hotels has expertly developed and managed dozens of hotels in partnership with many of the world's most-recognized hotel brands. Today, the Gulf Coast-based company owns or manages 3,286 rooms and employs approximately 2,000 people. Innisfree is the largest beachfront hotel owner/operator in the Southeastern United States, boasting 14 beachfront properties along the Emerald Coast. Stretching its expansive portfolio to the Atlantic Ocean, Innisfree also operates seven beachfront/beach view hotels in many premier destinations, such as Amelia Island, Cocoa Beach, Hutchinson Island and Myrtle Beach. Innisfree has also expanded inland, adding key urban hotels in New Orleans, Sarasota, and Downtown Pensacola.
Innisfree is a triple bottom line company, measuring success not only in profits but also through its impact on people and on the planet. To these ends, Innisfree strives to promote a culture of responsibility and service to humanity. A value-driven corporate culture enables the company to have a deeper understanding of the needs of its guests, partners and clients, resulting in service that ensures fun and memorable experiences.
In 2019, Innisfree was ranked as one of the nation's top Management Companies and top Owners & Developers by Hotel Business, the no. 1 hotel industry information source according to Harvey Research.
About RREAF Holdings LLC:
RREAF Holdings LLC ("RREAF") is a privately held, vertically integrated commercial real estate company based in Dallas, with roots that go back nearly 35 years in the industry. RREAF focuses its portfolio of commercial real estate projects and development under five main divisions aimed primarily at catering to middle America with its programmatic value-add multifamily acquisitions, opportunistic hospitality and resort acquisitions, core ground-up development, large highly amenitized highly programmed master planned developments and it's ground-up extended stay hospitality development division. RREAF employs over 350 people, mostly across the Sun Belt region, handling a wide range of commercial real estate investment matters, including in-house underwriting/due diligence, capital markets, acquisition, asset management, property management, construction management, project development, accounting and legal support. RREAF, along with its debt and equity partners, has built a diversified portfolio in its core competencies in excess of $2.5 billion in assets under management. RREAF's mission is to enhance the lives of its investors, partners, property residents and guests by providing outstanding service, excellence and expertise with integrity, vision, values and purpose. For more information, please visit RREAF.com.
Media Contact
Mary Eva Tredway, Butin Integrated Communications, +1 4043170731, [email protected]
SOURCE Innisfree Hotels
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