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Real Estate

OTO Development Acquires Beachfront Hotel In North Carolina

December 22, 2020

SPARTANBURG, SC– OTO Development is growing once again with its fifth acquisition in just three years, the purchase of the Holiday Inn Resort Wilmington E-Wrightsville Beach.

“We are delighted to add this iconic beachfront hotel to our portfolio of owned hotels,” says Corry Oakes, CEO of OTO Development. “The location, right on the sand in Wrightsville Beach, is remarkable and the fact that each guest room or suite has a water view, most with balconies, allows visitors to truly enjoy all the benefits of a beachfront location.”

While OTO has built its reputation by developing new hotels in high-barrier-to-entry markets, the company’s growth strategy also includes purchasing – and re-purposing – existing assets in prime locations. With a goal of maximizing a property’s potential, OTO Development has enhanced hotels through renovations and operational improvements.  OTO recently transformed hotels in Key West and Marathon in the Florida Keys and has a current project under renovation in St. Pete Beach, FL.

Originally built in 1999, the seven-story 184-room Holiday Inn Resort will enjoy its own major refresh over the course of the next 12-18 months. Highlights of the upgrades include updating the lobby, restaurants, bars and event spaces; refreshing the guest rooms with new furniture and bathrooms; and enhancements to the pools and outdoor areas.  Major improvements will also be made behind the scenes with the property’s HVAC and mechanical systems.

The resort features three pools and two whirlpools in addition to direct beach access with bike, beach chair and umbrella rentals.  A popular choice for families with young children, the Kids’ Club offers crafts, activities and movie nights for young guests.  A sand volleyball court, playground and fitness room round out the recreational offerings.

Dining options are also plentiful at the resort.  In the main restaurant, aptly named Oceans, guests can enjoy creative Southern Cuisine and local seafood. Lazy Daze Bar & Grill, a seasonal poolside café has tasty lighter fare, alongside tropical drinks and smoothies.  Gabby’s Lounge offers oceanfront views, best enjoyed with a crafted cocktail or glass of beer or wine.

Meetings and social gatherings at the hotel enjoy an expansive 8,000 square feet of event space, with plenty of space for social distancing. The main ballroom, with over 4,000 square feet of flexible space, can easily be divided into separate spaces. An oceanfront ballroom provides extraordinary views to complement the Southern hospitality of our professional team, ensuring every event is memorable.

“For decades, the Holiday Inn Wrightsville Beach has been a destination all its own for family beach vacations, picturesque weddings and relaxing, yet productive conferences,” Oakes says. “We are delighted to be a part of the next phase of this hotel’s history, along with the many memories that will be made here.”

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