NATIONAL REPORT—In the U.S., developers have put shovels in the ground for new hotel projects—Hilton, Hyatt Place, Even Hotels and others. Here’s a look at new-builds in the works:
JV to Build First Resort in Charleston, SC
Hilton Grand Vacations Inc. (HGV) and Strand Capital Group LLC will develop Liberty Place Charleston by Hilton Club. The downtown resort will be HGV’s first property in Charleston, SC, as well as HGV and Strand’s first joint venture as development partners.
HGV’s $10-million investment in the capital-efficient joint venture structure allows the company to generate strong business results, while maintaining flexibility with cash flow for additional growth opportunities, according to the company.
Liberty Place Charleston, HGV’s fifth property developed in collaboration with Strand in South Carolina, will offer 100 units, including studios and one- and two-bedroom suites. Amenities will include a fitness center, lobby bar and owners’ lounge. The property is within walking distance of The Battery, South Carolina Aquarium, dining, shopping and entertainment.
Construction on the project, located at 475 E. Bay St., is anticipated to begin in the fourth quarter, with completion in the second quarter of 2020.
Source: Hotel Business