Charlotte, N.C.-based Park Place Hospitality Group has sold the Holiday Inn Charleston-Riverview in Charleston, S.C., to a partnership led by Rick Patton, principal of Rio Partners, for an undisclosed price.
Park Place Hospitality Group completed an extensive renovation before the sale, updating guestrooms and common spaces.
The 179-room Holiday Inn Charleston-Riverview is one of the few waterfront hotels on the Ashley River. In 2021, the economic impact of tourism in Charleston exceeded $10 billion.
Robert Taylor and Sophia Pittaluga of Hunter Hotel Advisors' Miami office arranged the sale for Park Place Hospitality Group. “We are enthused to have executed on another successful acquisition with the Hunter team. Despite a challenging capital markets environment, Robert and Sophia worked diligently with all parties to ensure this deal got across the finish line," Patton said in a statement. "Their creative efforts were critical in reaching a deal that worked for both seller and buyer."