This distinctive Myrtle Beach hotel has a new owner. Room upgrades are on the way.

A California-based hotel management company with more than 6,000 rooms under its brand is entering the lucrative Myrtle Beach market, acquiring one of the city’s best known properties.

Springboard Hospitality CEO Ben Rafter said adding The Sandcastle Oceanfront Resort at the Pavilion and The Sandcastle Oceanfront Resort at South Beach is a vote of confidence for a tourism sector that draws nearly 20 million people annually.

“We look forward to transforming both properties with refreshed guest rooms and public spaces,” he said in a Dec. 20 statement.

The sale puts 410 rooms under Springboard’s control as the region’s lodging industry continues to make gains.

“We do see international improving, we see business travel improving, leisure travel — especially places like the beach is already back really strong,” tourism economist Geoff Lacher said during a recent Myrtle Beach Area Chamber of Commerce sponsored webinar.

Lacher said lodging demand is up about 20% since the pandemic, while accommodation-related revenues have doubled.

No price was given for the transaction, but county records show the properties have a combined market value of more than $6.2 million.

Springboard has acquired $200 million worth of hotel properties over the last two years in major tourism areas including Kona, Hawaii and Jackson, Wyo., according to its website.

This story was originally published December 20, 2022 at 3:56 PM.