Public Owned Convention Hotel
Components: Convention Center and 400-room Convention Hotel
Project Value: $50 million
SAG is the asset manager for the Myrtle Beach Convention Center and Sheraton Hotel. SAG has managed the development of the convention center complex since 1992. SAG’s services have ranged from feasibility to developer selection, contract negotiations, underwriter procurement, finance plan development, and operational asset management. Our role as asset manager has included monitoring performance from a market and financial perspective; reviewing annual marketing, financial and business plans; monitoring staffing levels; monitoring third-party contracts; assessing capital budgets; and reviewing compliance with lender covenants and other contracts. SAG also has performed asset management services for the convention center. Our services include reviewing annual business and marketing plans, contract negotiations, modifying booking policies, assessing staffing, and working with management to maximize the impact of the center.