FLORENCE, South Carolina—Raines added two extra properties to its administration portfolio: Springhill Suites Cheraw in Cheraw, South Carolina, and Hilton Backyard Inn College District Greenville in Greenville, North Carolina. Co-X Holdings has a majority stake in each properties.
The 102-key Springhill Suites Cheraw consists of free breakfast, visitor laundry, a health middle, an outside pool, and an on-site restaurant. The restaurant, Dizzy’s Bar and Grill, is called after the well-known jazz singer Dizzy Gillespie, who was from Cheraw. The city hosts an annual jazz competition in his honor.
Raines’ first property within the Greenville market, Hilton Backyard Inn College District Greenville, will open later this yr inside strolling distance of Japanese Carolina College’s campus. It would have 101 guestrooms, assembly house, a health middle, visitor laundry, a sundry store, and a rooftop bar and restaurant that each locals and friends can take pleasure in. As soon as full, the resort would be the tallest constructing in downtown Greenville. The property is being developed by Clarendon Properties.
“We’re thrilled to welcome these two properties into our administration portfolio following a milestone yr,” mentioned Gray Raines, managing companion of Raines. “Our sturdy presence within the Southeast, deep expertise with F&B shops, and robust momentum made us the right match for these properties. We stay up for increasing our presence within the area and persevering with to maximise returns for the properties we oversee.”
In 2023, Raines acquired HP Inns, reopened the Waynesville Inn & Golf Membership, and ended the yr with a property launch and conversion.
