Here is why a bank wants to take control of a Murrells Inlet hotel
A change in operators and months of allegedly not paying debts appear to have put a Murrells Inlet hotel property in legal limbo.
The hotel is currently a Country Inn and Suites near the Inlet Square Mall off U.S. Highway 17. This week, U.S. Bank filed in Horry County civil court trying to foreclose on the property. The companies and individuals that own the property were named as defendants in the suit.
U.S. bank initially gave the owners a $4.5 million loan for the facility, according to court paperwork. In 2008, the property had an agreement to operate as a Holiday Inn Express. However, in 2018, the owners reached a deal for the hotel to become a Country Inn and Suites by Radisson.
That change in operators was without U.S. Bank consent, which the bank says was required as part of the $4.5 million loan agreement.
Neither Holiday Inn Express or Radisson’s Country Inn and Suites are listed as defendants in the suit.
The bank also claims that the owners have missed months of payments and have not responded to letters informing them they were in default. The filing does not specify how much the owners owe in missed payments.
U.S Bank asked a judge to allow them to foreclose on the property. The bank also wants the court to appoint a person to run the property to make sure revenue is paid to the proper groups.
Officials that represent the property could not be reached in time for this report.
The hotel is near the Inlet Square Mall, which had its own legal challenges in 2018 when the previous owners missed months of payments. The mall has new owners since that legal dispute.
