yachtsman resort myrtle beach auction

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Yachtsman Resort to be sold at auction, with bids starting at $4.75 million

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According to Ten-X , an auction of the 153 room Oceanfront Yachtsman Resort will begin online Feb. 13th – 16th.

The Yachtsman hotel stands at 10 stories high on 1304 & 1404 North Ocean Blvd in the City of Myrtle Beach, S.C. The property previously existed as a timeshare. The Ten-X site states the timeshare agreements have been terminated and the property can now be converted into a hotel.

The Yachtsman was built in 1982.

BJ Patel, managing director at Atlanta-based firm Hodges Ward Elliott, is listed as a key contact in the sale.

William M. Hodges and Michael Brandes of Hodges Ward Elliott are also listed as contacts for the pending sale. The Ten-X site reads “ Due to the termination of the previous timeshare agreement, 153 units are now available for purchase, including the land itself, ” according to a site description. “ Given that the property hasn’t received any capital expenditures since the last decade, a comprehensive guest-room focused overhaul will allow it to better compete against its competitive set and the market. ”

As found on the Ten-X website:

The Yachtsman is offered fee simple and unencumbered by existing management and debt, affording new ownership maximum flexibility in the future operation and capitalization of the property. Due to the termination of the previous timeshare agreement, 153 units are now available for purchase, including the land itself. Each of the 153 suite-style guestrooms features a kitchenette and living space, allowing maximum comfortability for the hotel’s guests. These suite-style rooms are perfectly tailored to the market, which receives a strong base of demand from family leisure travelers. Given that the property hasn’t received any capital expenditures since the last decade, a comprehensive guest room-focused overhaul will allow it to better compete against its competitive set and the market. As a newly renovated, all-suite style hotel, the property is anticipated to generate substantial incremental ADR and room revenue on a stabilized basis, which will flow directly to the bottom line and lead to significant cash flow gains for a new owner going forward.

Due to the property’s flexible zoning, in addition to hotel use, the property has potential for alterative use – (example – Multi-Family).

Continues an ongoing sea change of ownership in Myrtle Beach Hotels and businesses.

This sale continues a massive turnover in business ownership in Myrtle Beach, S.C.

In 2021 -2022, the oceanfront Myrtle Beach hotels changing ownership included:

• Brittain Resort Hotels  was purchased by E.O.S. Investors, LLC of N.Y.
• The  Sea Mist Resort  was put on the market for $55 million.
• Sand Castle Hotels sold to a L.A. Investment team.
• Kingston Resorts  purchased by E.O.S. Investors, LLC of N.Y.
• The  Family Kingdom  selling just this past Fall.
• The City of Myrtle Beach purchasing the  Fountain Bleu  and Oasis Motels.
• The City of Myrtle Beach purchased the Midtown Motel for $8.2 million in October.
• Better Brands Beer Distributors sold this past Friday, December 9th to Southern Crown Partners
• MB National, LLC, purchased the Oceanfront Monterey Bay and Suites in November 2022.

2022 will be remembered as one of the highest turnover periods of Myrtle Beach Hotels among key brand named properties in the city.

• Better Brands Beer Distributors
• Family Kingdom
• MB National
• Midtown Motel
• Monterey Bay
• Sand Castle Hotels
• William M. Hodges

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Sale of ex-SC timeshares upended as top bidder says never mind

The Yachtsman Resort on Ocean Boulevard in Myrtle Beach hit the virtual auction block last month after it was ordered sold as part of a bankruptcy case.

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California real estate firm acquires Myrtle Beach hotel for 'higher-end' housing

by Brianna Allison

MYRTLE BEACH, S.C. (WPDE) — A Beverly Hills-based real estate firm has purchased the Yachtsman in Myrtle Beach.

The management partner of Hybridge Capital Max Mellman confirmed the sale to ABC15 on Thursday.

READ MORE: Potential land purchase could expand Lewis Ocean Bay Heritage Preserve by 350 acres

A release from Hybridge detailed that the “deal was secured out of bankruptcy through an off-market transaction.”

Mellman added that the company is looking to develop the 159 beachfront condominiums into 'higher-end' long-term housing.

"We're excited about the project and to add some additional housing to Myrtle Beach,” he said.

According to online records, the mortgage for the property is nearly $12 million.

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Auction Item Description

Please note: The rank of bidders is listed by the best price, greatest quantity, date the item was bid on, and the time the bid was placed. Winning bidders will be displayed! All times are EST.

*The AutoBid feature is an optional feature which allows you to place a blanket bid on an item. This way you do not have to be present to raise your bid to the next acceptable bid level should someone else outbid you. If someone outbids you, the AutoBid acts as your agent and raises your bid to the next acceptable winning bid. This will continue until your AutoBid limit is reached. In the event of ties, the AutoBid is the winning bid.  

Reference #: 124803

Hybridge Capital Acquires Yachtsman Resort in Myrtle Beach Out of Bankruptcy

MYRTLE BEACH, S.C. — Hybridge Capital Management has purchased The Yachtsman Resort, a 159-room hotel located at 1304 N. Ocean Blvd. in Myrtle Beach. The Los Angeles-based investor acquired the hotel, which was built in 1982, out of bankruptcy in an off-market transaction.

Bhavesh Patel of Hodges Ward Elliott represented the seller, Maryland-based Lemonjuice Solutions, in the transaction. The sales price was not disclosed. Max Mellman and Drew Rands of Max Benjamin Partners Inc., along with Justin Ghaderi of CBRE, secured an undisclosed amount of acquisition financing for the deal.

Hybridge Capital, which now owns 569 hotel/resort rooms in Myrtle Beach, plans to implement a capital improvement program to restore The Yachtsman. Details about the renovation were not disclosed.

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The Yachtsman Resort

View prices for your travel dates

• Excellent 47
• Very Good 69
• Terrible 55
• All languages ( 243 )
• English ( 242 )
• German ( 1 )

" Higher floors will have broader view of ocean (and maybe less street noise). "

" The bedrooms face the street where all the noise is. "

" All rooms are ocean front. "

" South Tower has larger pool deck, North Tower best for kids activities and rest rooms. "

" All rooms are oceanfront with a "toe balcony" (wide enough for your toes). "

Own or manage this property? Claim your listing for free to respond to reviews, update your profile and much more.

THE YACHTSMAN RESORT $109 ($̶1̶1̶6̶) - Updated 2024 Prices & Specialty Resort Reviews - Myrtle Beach, SC

Yachtsman Oceanfront Resort

1304 N Ocean Blvd, Myrtle Beach, 29577, United States of America – Excellent location – show map

Cleanliness

Value for money

Yachtsman Oceanfront Resort Reserve now

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Wonderful: 9+

Good: 7 – 9

Fair: 5 – 7

Poor: 3 – 5

Very Poor: 1 – 3

Categories:

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• Families (750)
• Couples (420)
• Groups of friends (49)
• Solo travelers (45)
• Business travelers (28)
• Wonderful: 9+ (444)
• Good: 7 – 9 (390)
• Fair: 5 – 7 (230)
• Poor: 3 – 5 (131)
• Very Poor: 1 – 3 (147)

• Mar–May
• Jun–Aug
• Sep–Nov
• Dec–Feb

Yachtsman Oceanfront Resort is set in Myrtle Beach, a 5-minute walk from Myrtle Beach Boardwalk. This property is located a short distance from attractions such as Myrtle Beach Convention Center. Broadway at the Beach is 1.4 mi away and Myrtle Beach SkyWheel is 3.1 mi from the resort. Selected rooms also boast a kitchen with a microwave, a toaster and a fridge. All rooms will provide guests with a private bathroom with a bath or shower. The resort offers an outdoor pool. Myrtle Beach State Park is 3.7 mi from Yachtsman Oceanfront Resort. The nearest airport is Myrtle Beach Airport, 3.1 mi from the property.

Couples in particular like the location – they rated it 8.9 for a two-person trip.

Distance in property description is calculated using © OpenStreetMap

• 2 swimming pools
• Free parking
• Non-smoking rooms
• Family rooms
• BBQ facilities
• Tea/Coffee Maker in All Rooms

Property Highlights

Located in the real heart of Myrtle Beach, this property has an excellent location score of 9.0!

Free private parking

Activities:

• Golf course (within 2 miles)

Saved to 5945 lists

Availability

Select dates to see this property's availability and prices

Resort Facilities at Yachtsman Oceanfront Resort

• Toilet paper
• Bathtub or shower
• Private Bathroom
• Wardrobe or closet
• Picnic area
• Outdoor furniture
• Coffee machine
• Clothes rack
• Bicycle rental Additional charge
• Movie nights
• Cycling Off-site
• Flat-screen TV
• Tea/Coffee maker
• Parking garage
• Accessible parking
• ATM on site
• Baggage storage
• Indoor play area
• Board games/Puzzles
• Business center
• CCTV in common areas
• Smoke alarms
• Key card access
• 24-hour security
• Shared lounge/TV area
• Vending machine (snacks)
• Vending machine (drinks)
• Air conditioning
• Smoke-free property
• Upper floors accessible by elevator
• Open all year
• Beach umbrellas Additional charge
• Beach chairs/Loungers Additional charge
• Hot tub/Jacuzzi

Property practices

See availability house rules.

From 3:00 PM to 10:00 PM

Guests are required to show a photo ID and credit card at check-in

From 8:00 AM to 10:00 AM

Cancellation/ prepayment

Cancellation and prepayment policies vary according to accommodations type. Please enter the dates of your stay and check what conditions apply to your preferred room.

Refundable damage deposit

A damage deposit of USD 100 is required on arrival. This will be collected by credit card. You should be reimbursed within 7 days of check-out. Your deposit will be refunded in full by credit card, subject to an inspection of the property.

Children & Beds

Child policies

Children of all ages are welcome.

Children 18 and above will be charged as adults at this property.

To see correct prices and occupancy info, add the number and ages of children in your group to your search.

Crib and extra bed policies

Cribs and extra beds aren't available at this property.

Age restriction

The minimum age for check-in is 19

Pets are not allowed.

Accepted payment methods

Cash is not accepted Yachtsman Oceanfront Resort accepts these cards and reserves the right to temporarily hold an amount prior to arrival.

The fine print Must-know information for guests at this property

Please note, guests must be at least 21 years old to check-in.

Guests are required to show a photo ID and credit card upon check-in. Please note that all Special Requests are subject to availability and additional charges may apply.

A damage deposit of $100 is required on arrival. This will be collected by credit card. You should be reimbursed within 7 days of check-out. Your deposit will be refunded in full by credit card, subject to an inspection of the property.

FAQs about Yachtsman Oceanfront Resort

Is yachtsman oceanfront resort popular with families.

Yes, Yachtsman Oceanfront Resort is popular with guests booking family stays.

How much does it cost to stay at Yachtsman Oceanfront Resort?

The prices at Yachtsman Oceanfront Resort may vary depending on your stay (e.g. dates, hotel's policy etc.). To see prices, enter your dates.

Does Yachtsman Oceanfront Resort have a hot tub for its guests?

Yes, there's a hot tub. You can find out more about this and the other facilities at Yachtsman Oceanfront Resort on this page.

What type of room can I book at Yachtsman Oceanfront Resort?

How far is yachtsman oceanfront resort from the center of myrtle beach.

Yachtsman Oceanfront Resort is 150 feet from the center of Myrtle Beach. All distances are measured in straight lines. Actual travel distances may vary.

Does Yachtsman Oceanfront Resort have a pool?

Yes, this hotel has a pool. See details about the pool and other facilities on this page.

What are the check-in and check-out times at Yachtsman Oceanfront Resort?

Check-in at Yachtsman Oceanfront Resort is from 3:00 PM, and check-out is until 10:00 AM.

What is there to do at Yachtsman Oceanfront Resort?

• Bicycle rental
• Swimming pool

The Best of Myrtle Beach

Attractions.

• Broadway at the Beach
• Skywheel Myrtle Beach
• Dragon s Lair Fantasy Golf

Convention Centers

• Myrtle Beach Convention Center

Golf Courses

• Barefoot Landing
• Barefoot Resort Norman Golf Course
• West Course at Myrtle Beach National
• Captain Hook s Adventure Golf
• Myrtle Beach Air Force Base
• The Franklin G Burroughs - Simeon B Chapin Art Museum
• Myrtle Beach State Park
• Chapin Memorial Park
• Sea Hawk Memorial Stadium

Popular Areas

• Myrtle Beach Boardwalk
• Garden City Pier

Shopping Areas

• The Market Common
• Tanger Outlets Myrtle Beach Hwy 501
• Grand Strand Plaza Shopping Center
• Myrtle Square Mall Shopping Center
• Hudson s Surfside Flea market
• Waccamaw Factory Shoppes
• Seventieth Avenue North Shopping Center

Stadiums or Arenas

• Coastal Federal Field
• Alabama Theater
• Carolina Opry Theater

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1304 North Ocean Boulevard | Myrtle Beach, South Carolina 29577 | 843.448.2214 | E-mail: [email protected]

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