LOS ANGELES, California—Springboard Hospitality announced two new hotels joining its portfolio, The Sandcastle Oceanfront Resort at the Pavilion and The Sandcastle Oceanfront Resort South Beach in Myrtle Beach, South Carolina, with a combined 410 rooms. This 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 United States,” 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 guest rooms 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 access to nearby attractions. The property two swimming pools and a lazy river and is within walking distance to Myrtle Beach Pavilion.
The Sandcastle Oceanfront Resort South Beach offers indoor and outdoor pools, an oceanfront lawn area, and poolside cabana bar. The resort is near Springmaid Pier and is within walking distance to Pelicans Ballpark, home to the minor league Myrtle Beach Pelicans.
Springboard Investment Advisors LLC (SIA), advised on structuring the hotel’s management contract and co-investment alongside Los Angeles-based Hybridge Capital Management.
“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.”
Springboard Hospitality ends 2022 on the heels of growth in the past two years, increasing its presence in leisure destinations, including Kona, Hawaii; Branson, Missouri; Mammoth Spring, California; and Jackson, Wyoming, which join anchor properties in Los Angeles and San Francisco. The company added six new hotels to its portfolio this year and manages more than 6,000 rooms across the United States. Springboard offers an approach to managing hotels, offering management agreements to support owners’ operations, marketing, revenue, capital planning, and sales goals.