The Myrtle Beach Sand Castle North and South were purchased by Hybridge Capital Management in September 2022. Hybridge Capital Management is a Los Angeles-based investment firm focused on commercial real estate and technology.
Springboard Hospitality announced this week that the two Myrtle Beach hotels have joined the Springboard Hospitality management portfolio: The Sandcastle Oceanfront Resort at the Pavilion and The Sandcastle Oceanfront Resort South Beach. The properties, both in the City of Myrtle Beach, add a combined 410 rooms to Springboard Hospitality’s umbrella and mark the company’s first hotels in the 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.,” Springboard Hospitality CEO Ben Rafter said in a statement. “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 has two swimming pools and a lazy river and is close to Myrtle Beach Pavilion, the 11-acre amusement park.
The Sandcastle Oceanfront Resort South Beach has indoor and outdoor pools, an oceanfront lawn area and a poolside cabana bar. The resort is close to Springmaid Pier and within walking distance to Market Common.
The hotels were formerly a part of the Airport Properties portfolio. Springboard Hospitality has the necessary skill set to quickly bring the two hotels current and make them among the best Myrtle Beach Hotels in their market.
The press release reads: Springboard Investment Advisors 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 these two Sandcastle resorts.”