Kingston Resorts® to Undergo $50 Million Dollar Multi-Phase Transformative Renovation and Repositioning

USA, Myrtle Beach, South Carolina. March 17, 2020

EOS Investors LLC (EOS), a privately held real estate investment firm, has unveiled plans for a multi-phase $50 million dollar renovation of the Kingston Resorts® properties, beginning with a comprehensive $20 million dollar investment in the Hilton Myrtle Beach Resort followed by a $30 million dollar investment in the Embassy Suites Myrtle Beach Oceanfront Resort. The transformative renovation of Hilton Myrtle Beach Resort is set for completion by June 2020 and will bring EOS's vision to life for the future of these legacy properties, which includes a repositioning and reintroduction of the Hilton property as one of the premier oceanfront resort destinations in the market.

Phase one for Kingston Resorts' renovation, which began in January 2020, includes a complete redesign and upgrade of all 385 guest rooms at Hilton Myrtle Beach Resort. Room configurations will also be diversified in an effort to accommodate families, multi-generational travel and group needs. Bathrooms will undergo complete modernizations, including the addition of walk-in showers.

"As we look to improve upon Hilton Myrtle Beach Resort's success, we see incredible value and opportunity in elevating and enhancing the unique characteristics, offerings and experiences of the property," said Jonathan Wang, EOS president. "Making this significant investment in the resort is consistent with EOS's overall focus to provide premier hospitality experiences in strong, destination markets."

The renovation will feature a complete reimagination of Hilton Myrtle Beach Resort's current outdoor dining concept with a transformation into an upscale, social setting outfitted with inviting seating, fire pits and games, offering light fare and beverages throughout the day. Unique design elements will include floor-to-ceiling wood dividers that will offer guests a more private experience while still enjoying the Atlantic breezes and views of the ocean. Other public spaces and common areas undergoing renovation include the Dunes Ballroom, the property's 16th floor meeting and event space offering panoramic views of the Atlantic Ocean, as well as the hotel's oceanfront pool, which will be upgraded with new lounge chairs and umbrellas. Hilton Myrtle Beach Resort's signature oceanfront bar will also be refreshed and expanded to maximize guests' access to unparalleled ocean views and fresh beverages.

"From our refreshed dining outlets to our newly configured and beautifully renovated guestrooms, we're excited to offer an elevated experience for our guests," said Bob Barenberg, general manager, Kingston Resorts®. "For more than 45 years, Hilton Myrtle Beach Resort has created so many memorable experiences for our guests, and we look forward to welcoming the next generation of travelers building memories along the Grand Strand."

Kingston Resorts, owned by EOS, encompasses two market-leading, premium-branded full-service resorts, the 255-suite Embassy Suites Myrtle Beach Oceanfront Resort and the 385-room Hilton Myrtle Beach Resort as well as more than 1,600 residential condominiums and townhomes. The 157-acre beachfront campus boasts direct access to Myrtle Beach and the Atlantic Ocean, countless guest amenities and is the largest and most comprehensive oceanfront conference venue between Atlantic City, New Jersey and West Palm Beach, Florida. The resort features 100,000+ square feet of meeting and event space, multiple food and beverage outlets, more than

a dozen swimming pools, a recently constructed spa and fitness facility (Spa33 and 78Fitness) and a plethora of outdoor water activities.

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