July 12, 2023
Hunter Hotel Advisors announced Tuesday the sale of the Holiday Inn Charleston-Riverview in Charleston, South Carolina. 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 June 27. 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,” said Rick Patton, Principal of Rio Partners. “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.”
The Holiday Inn Charleston-Riverview is one of the few waterfront hotels on the Ashley River. It provides 179 rooms to Charleston, which, despite the pandemic, has boomed in recent years, according to a press release. Park Place Hospitality Group completed an extensive renovation before the sale, updating guest rooms and common spaces.