Hyatt Place at Mount Pleasant Towne Centre Sold for Almost $18 Million
The Hyatt Place hotel situated within East Cooper’s largest shopping destination has changed hands, fetching just under $18 million. This landmark property, completed in September 2019, features 92 rooms spread over six stories and is strategically located between Belk department store and Regal Cinemas at 1600 Palmetto Grande Drive, Mount Pleasant.
Key Features of Hyatt Place
- First of Its Kind: This location was the first Hyatt Place in Mount Pleasant and the inaugural hotel in the Charleston region built within a major retail center.
- Amenities: Guests can enjoy an array of features, including:
- An indoor pool
- An outdoor patio with bar access
- Dining options
The hotel was developed by OTV Towne Centre LLC, a division of James Island-based Old Tabby Ventures LLC, under the management of Raines Hospitality. Grey Raines, the managing partner, confirmed that Raines will continue to oversee operations after the sale.
"We had an investor who needed to place capital, and since we developed that property originally, it just kind of fell in place," Raines shared. “We’re excited about working with the new owner and managing the property for the long term.”
New Ownership
The buyer, C.H. McEntire Real Estate LLC, is associated with Carter McEntire, former CEO of McEntire Produce, a business known for fresh-cut food processing. The sale was finalized on June 9, 2023, and marks a significant transition for both the property and its management team.
The Impact of Tourism on Charleston
In a related discussion, Helen Hill, CEO of Explore Charleston, highlighted the importance of storytelling in tourism during a recent appearance on the national podcast View From Afar. She emphasized how authentic narrative contributes to Charleston’s appeal, particularly in anticipation of America’s 250th anniversary celebrations.
Highlights from Helen Hill’s Insights
- Growth in Air Travel: Charleston International Airport now serves over 6 million passengers annually, significantly boosting local tourism.
- Shifts in Visitor Demographics: In recent years, New York City has surpassed North Carolina as the leading source of visitors to Charleston.
- Historical Context: Hill noted Charleston’s significant role in U.S. history, contrasting different forms of protest during the Revolutionary War.
New Boutique Accommodation in Savannah
Expanding the scope of Southern hospitality, Wild Olive, known for its exquisite Italian cuisine, has launched a new boutique hotel in Savannah, named The Douglas. Here are the details:
- Location: Just across the state line in Savannah, this charming 16-room hotel captures the essence of Southern design.
- Restaurant: The Douglas will feature a signature restaurant named Lester’s, set to open later this year.
Pricing Information
- Room Rates: Average nightly rates range from $523 to $1,200, reflecting the hotel’s historic allure and prime location within Savannah’s historic district.
Conclusion
The recent sale of Hyatt Place at Mount Pleasant Towne Centre symbolizes a pivotal moment for both hotel management and local tourism dynamics. Coupled with the emergence of boutique hotels like The Douglas, the region continues to evolve as a sought-after destination for travelers. For more information about Charleston tourism, you can visit Explore Charleston for detailed insights and travel options.
Staying updated and engaged with these developments will undoubtedly enhance your experience in this vibrant coastal region.