Tampa, Fla. (July 15, 2019) – The Plasencia Group is pleased to announce the sale of Kingston Resorts, located in Myrtle Beach, South Carolina. The resort is home to the 255-room Embassy Suites Myrtle Beach Oceanfront Resort and the 385-room Hilton Myrtle Beach Resort, enhanced by a robust condominium hotel platform. The properties are situated on 2,800 linear feet of Atlantic Ocean beachfront and together offer over 100,000 square feet of meeting space.
The Plasencia Group worked on behalf of the seller, RLJ Lodging Trust, of Bethesda, Maryland. Senior Managing Director, Robert Wiemer; Managing Director, Chris Plasencia; and Vice President, John Plasencia advised the seller in this transaction.
“We are proud to have assisted our client in securing a great outcome in pricing and execution with the strategic sale of this asset,” said Robert Wiemer. “Meanwhile, the purchaser acquired an asset that matches their investment criteria.”
Chris Plasencia added, “We expect that new ownership will build on Kingston’s already stellar reputation as one of the premier leisure and group destinations on the Eastern Seaboard, and we anticipate that the property and its substantial amenities will continue to attract guests new and returning alike.”
The Plasencia Group has successfully completed more than 150 engagements across the Southeastern United States. It has also transacted more than 100 Hilton-branded hotels and resorts nationwide.