Holiday Inn Resort In Wrightsville Beach Changes Hands, Will Be Upgraded

By Cece Nunn, posted Dec 22, 2020
The Holiday Inn Resort in Wrightsville Beach has been acquired by a South Carolina firm. (Photo courtesy of OTO Development)
The Holiday Inn Resort in Wrightsville Beach has a new owner and will soon be upgraded, according to an announcement Tuesday.

Officials with OTO Development of Spartanburg, South Carolina, stated in a news release that the purchase of the Holiday Inn Resort Wilmington E-Wrightsville Beach is the firm's fifth acquisition in three years.

The sale price was not disclosed in the release and as of noon Tuesday was not yet available from a recorded deed. The previous owner was Moores Inlet Limited Partnership, according to tax records.

“We are delighted to add this iconic beachfront hotel to our portfolio of owned hotels,” says Corry Oakes, CEO of OTO Development, in the release. “The location, right on the sand in Wrightsville Beach, is remarkable and the fact that each guest room or suite has a water view, most with balconies, allows visitors to truly enjoy all the benefits of a beachfront location.”

OTO plans to upgrade and refresh the seven-story, 184-room hotel over the next 12 to 18 months, according to the release. OTO is already operating the hotel.

"Highlights of the upgrades include updating the lobby, restaurants, bars and event spaces; refreshing the guest rooms with new furniture and bathrooms; and enhancements to the pools and outdoor areas," the release stated. "Major improvements will also be made behind the scenes with the property’s HVAC and mechanical systems." 

OTO develops hotels in high-barrier-to-entry markets, according to the release, but the company’s growth strategy also includes purchasing – and repurposing – existing assets in prime locations.

"With a goal of maximizing a property’s potential, OTO Development has enhanced hotels through renovations and operational improvements," the release stated. "OTO recently transformed hotels in Key West and Marathon in the Florida Keys and has a current project under renovation in St. Pete Beach, Florida."

Holiday Inn Resort has three pools and two whirlpools in addition to direct beach access with bike, beach chair and umbrella rentals. Dining options include main restaurant Oceans; Lazy Daze Bar & Grill, a seasonal poolside cafe; and Gabby’s Lounge. 

The hotel has 8,000 square feet of event space, and the main ballroom has over 4,000 square feet of flexible space.

In North Carolina, OTO also owns a hotel in downtown Chapel Hill and manages a hotel in downtown Charlotte.
Ico insights



One Year And 1 Million Cups Later

Diane Durance - UNCW Center for Innovation and Entrepreneurship
Atromitos micheallegady headshot

The Business Case For Medicaid Expansion – 3 Reasons Business Leaders Should Support Medicaid Expansion

Michealle Gady - Atromitos
Capefearrealtors tomgale headshot

Promoting The Affordable American Dream

Tom Gale - Cape Fear REALTORS®

Trending News

King Talks Leadership At Chamber Annual Meeting; Three Receive Awards

Jenny Callison - Feb 26, 2021

Brunswick County Airports Awarded Grants

Christina Haley O'Neal - Feb 26, 2021

In The Current Issue

Watercraft Handcrafted In Wilmington

Cape Fear Catamarans on U.S. 421 customizes, designs and builds aluminum boats....

Transit Director Leads Adaptation

Wave Transit’s role in the community’s physical and economic well-being is something Wave’s new executive director, Marie Parker, wants resi...

During Pandemic, State Parks Fill Up

People, parks and a pandemic made a strong combination for North Carolina state parks last year, with a record number of visi­tors taking ad...

Book On Business

The 2021 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!



Trying to Grow a Business?
2020 Health Care Heroes
2020 WilmingtonBiz 100