Charleston riverfront hotel sold

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A recently renovated riverfront hotel in Charleston has been sold.

Hunter Hotel Advisors has sold the Holiday Inn Charleston-Riverview.

A partnership led by Rick Patton, principal of Rio Partners, purchased the riverfront property from Charlotte-based Park Place Hospitality Group for an undisclosed price on Tuesday, according to a news release. Robert Taylor and Sophia Pittaluga of Hunter’s 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. Their creative efforts were critical in reaching a deal that worked for both Seller and Buyer,” Patton said in the release. 

The Holiday Inn Charleston-Riverview is one of the few waterfront hotels on the Ashley River, according to the release. It provides 179 rooms to Charleston, which, despite the pandemic, has boomed in recent years, the release stated.

Adding to the property’s appeal, Park Place Hospitality Group completed an extensive renovation before the sale, updating guest rooms and common spaces, the release stated.

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