Holiday Inn Club Vacations Incorporated announced that its acquisition of 16 acres of undeveloped property in Myrtle Beach, South Carolina from Myrtle Beach Farms Company, Inc. was finalized earlier this year. In March, the Company finalized its subsequent conveyance of an 11-acre beachfront portion of the property to Myrtle Holiday 1, LLC, who will develop the property into a brand-new, oceanfront resort for the Company. The new resort is expected to open in 2024.
"We've experienced first-hand how much families love Myrtle Beach, as our South Beach Resort has been one of the most popular properties in the network for more than 10 years. Our team's familiarity with the destination, coupled with the creative freedom of building from the ground up, means we have a great opportunity to create a truly unique resort," said Tom Nelson, Chief Executive Officer at Holiday Inn Club Vacations Incorporated. "This year marks the 40th anniversary of our Company. When I reflect on our history and growth over the last 40 years, I can't think of a more fitting way to celebrate this milestone than by expanding our network, once again, to bring more memorable vacation experiences to our owners and guests."
The beachfront property is located across the street from Holiday Inn Club Vacations South Beach Resort. Once the first phase of development is complete, the new resort will feature 152 one-, two-, three- and four-bedroom villas, ranging in size from 746 to nearly 1,900 square feet. All villas will include patios and offer ocean views. A portion of the villas will be designated for Signature Collection, the Company's luxury product.
In addition to direct beach access, the resort will offer guests many amenities, including a beachside activity lawn, multi-level pool, outdoor fire pit with lounge seating, poolside hot tubs, private cabanas, fitness center, Grab 'n Go marketplace with café, indoor and outdoor dining, poolside bar, indoor and outdoor activity centers, covered parking and an exclusive Signature Collection lounge.