HREC Arranges Sale of Holiday Inn, Little River, SC
TAMPA, FL, April 21, 2008. HREC Investment Advisors successfully represented Charlestowne Hotels in the sale of the Holiday Inn & Suites in Little River, South Carolina.
The Holiday Inn & Suites Little River is the premier full-service asset in the North Myrtle Beach/Little River area. The property is located within 4 miles of 40 championship golf courses, and within one mile of the area's casino boats. The hotel restaurant and pool overlook the Intercoastal Waterway harbor.
Charlestowne Hotels, Inc. was founded in 1980 and is a full-service hospitality management company. Charlestowne Hotels, Inc. offers proven expertise in development, operational controls, sales and marketing, and financial reporting systems and has become one of the most successful firms in the hospitality industry and one of the largest hotel management companies on the Southeast coast. The company currently manages 16 properties. (http://www.charlestownehotels.com/)
"Once again, HREC is extremely proud to be able to close another deal in this turbulent market. The historical performance of the asset and the job that Charlestowne Hotels had done certainly contributed to the lender becoming comfortable with the transaction," said Scott Stephens, Principal of HREC Investment Advisors, based out of Tampa, Florida.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
