Significant Topline and Operational Upside

Currently, the Fairfield Inn Myrtle Beach North is operating at extremely thin margins with a 8.1% NOI Margin as of TTM February 2024, creating an excellent opportunity for the next owner to improve cost structures which will allow improved NOI margins upon completion of change-of-ownership PIP. 

Excellent Location 

The Fairfield Inn Myrtle Beach North is positioned in the heart of one of the largest drive-to tourism markets in the country, Myrtle Beach. The hotel is located less than three miles from public beach access and is surrounded by major tourist attractions such as the Tanger Outlets Myrtle Beach, Myrtle Beach Mall, and Barefoot Landing. Myrtle Beach is known as the Golf Capital of the World due to its 120 golf courses which surround the Fairfield Inn. In addition, Broadway at the Beach, a $250 million mixed use development with attractions such as Ripley’s Aquarium of Myrtle Beach and Margaritaville, and Grand Strand Medical Center are located just 10 minutes from the Fairfield Inn. 

Offered Below Replacement Cost in a High Growth Market

According to the 2023 HVS U.S. Hotel Development Cost Survey, the national average construction cost for a limited-service hotel, similar to a Fairfield Inn, is approximately $195K per key. This offering provides the opportunity to acquire a cash-flowing asset with substantial potential for growth all at a discount to replacement cost with construction costs at an all-time high. 

Institutional Marriott Branded Asset

Marriott’s Fairfield Inn brand is one of the strongest brands in the Marriott family. Premium branded assets have distinct competitive advantages compared to the rest of the market due to their large rewards and reservation systems as well as name recognition. All Marriott properties are backed by the Marriott Bonvoy reward program which boasts over 120 million members across 30 brands and more than 6,700 hotels worldwide.