Categories: Business NewsConstructionFinanceNewsReal Estate & Properties

Sheraton Hotel in Myrtle Beach to Undergo Major Renovations

Sheraton Hotel in Myrtle Beach with renovation sign

Article Sponsored by:

SPACE AVAILABLE FOR SPONSORS!

Want to target the right audience? Sponsor our site and choose your specific industry to connect with a relevant audience.

What Sponsors Receive:

Prominent brand mentions across targeted, industry-focused articles
High-visibility placements that speak directly to an engaged local audience
Guaranteed coverage that maximizes exposure and reinforces your brand presence

Interested in seeing what sponsored content looks like on our platform?

Browse Examples of Sponsored News and Articles:

May’s Roofing & Contracting
Forwal Construction
NSC Clips
Real Internet Sales
Suited
Florida4Golf

Click the button below to sponsor our articles:

Sponsor Our Articles

News Summary

The historic Sheraton Hotel in downtown Myrtle Beach is set for a major overhaul over the next 24 months. A new contract with the city’s Convention Center Hotel Corporation Board has been signed, but the funding source remains unclear. Luckily, city officials have confirmed that no taxpayer money will be used for renovations. With $81 million in limited obligation bonds approved earlier this year for improvements to the connected Myrtle Beach Convention Center, there are many questions that the community hopes to answer as they await further details on the project.

Myrtle Beach Hotel Set for Major Overhaul!

Excitement is in the air for Myrtle Beach residents and visitors alike, as the historic Sheraton Hotel in downtown is gearing up for some big renovations that will take place over the next 24 months. With whispers about the extensive list of improvements needed, this is a story that combines the charm of a beloved local spot with a touch of mystery regarding funding.

What’s Happening?

If you’re a fan of this hotel, hold on to your hats! The Sheraton has officially entered into a new contract with the city’s Convention Center Hotel Corporation Board, but here’s the twist: it doesn’t lay out who’s footing the bill for this major revamp. The good news is that city spokesperson Meredith Denari has assured the public that the hotel will handle its own renovation costs, meaning neither the city nor taxpayers will chip in.

Questions on Costs

Although we know the hotel isn’t drawing from the city’s funds, the big question remains—how much will all this cost? Unfortunately, that answer is still up in the air. Denari has confirmed that she doesn’t have details on what the repairs will total, keeping residents and interested parties guessing. It’s quite the conundrum!

Bonding for Improvements

Earlier this year, Myrtle Beach City Council laid the groundwork for a funding strategy by passing an ordinance designed for the issuance of $81 million in limited obligation bonds. The intention behind this significant amount is to help cover renovations at the Myrtle Beach Convention Center, which happens to be connected to the Sheraton Hotel.

Ownership and Records

Diving deeper into real estate records reveals that the Convention Center is owned by the City of Myrtle Beach. It appears that this beautiful scenic spot is navigating some financial complexities, as the Myrtle Beach district had the highest municipal debt in Horry County just last year, according to state data.

Reaching Out for Answers

Curiosity is palpable among city residents and stakeholders, with several city council members being approached for further insights on the agreement. Voicemails were left for Council members, including Mike Lowder, Mike Chesnut, and even Mayor Brenda Bethune, but responses have been limited. One of the council members, Debbie Conner, did send a text reply directing further inquiries to the City Administrator or City Attorney without confirming her familiarity with the new agreement.

Information Awaits

In the pursuit of transparency, a Freedom of Information Act (FOIA) request was filed to access the new agreement. This document, spanning a hefty 78 pages, finally came through more than a month later, albeit with some information redacted. This was after several extension requests from city officials that left many in anticipation of the previous agreement’s expiration date. It is worth noting that the new details were not made available in the city’s meeting packet at the time the council approved it.

What Lies Ahead?

As Myrtle Beach gears up for these forthcoming changes, residents and visitors alike are left waiting for more details. What does the future hold for the Sheraton Hotel and the Convention Center? While excitement and questions abound, one thing is for sure: Myrtle Beach is on the brink of some transformative times that could reshape the downtown skyline! Only time will tell how these renovations will unfold, and we hope to get all the details sorted out soon.