FLORENCE, SC — March 11, 2024 — Following a landmark year, Raines has added two more properties to its management portfolio: Springhill Suites Cheraw in Cheraw, SC, and Hilton Garden Inn University District Greenville in Greenville, NC. Co-X Holdings has a majority stake in both properties.
“Raines is simply the best at what they do,” said Paul Adkison, co-founder of Co-X Holdings, a private, boutique investment firm based in Fort Lauderdale, FL. “They’re known for maximizing ROI for owners while also delivering memorable guest experiences, all while strategically growing their own portfolio of properties, and their command of the Southeast is unmatched. All of this and more is why we put them at the helm of these properties.”
The 102-key Springhill Suites Cheraw is positioned as the premier hotel in its market and will set a new standard for overnight accommodations in the area. Amenities include free breakfast, guest laundry, a fitness center, an outdoor pool, and an on-site restaurant. The restaurant, Dizzy’s Bar and Grill, is named after the famous jazz singer Dizzy Gillespie, who was from Cheraw. The town even hosts an annual jazz festival in his honor.
Raines’ first property in the Greenville market, Hilton Garden Inn University District Greenville, will open later this year at a prime location within walking distance of Eastern Carolina University’s campus. It will have 101 guestrooms, meeting space, a fitness center, guest laundry, a sundry shop, and a rooftop bar and restaurant that both locals and guests can enjoy. Once complete, the hotel will be the tallest building in downtown Greenville. The property is being developed by Clarendon Properties.
“We are thrilled to welcome these two properties into our management portfolio following a milestone year,” said Grey Raines, managing partner of Raines. “Our strong presence in the Southeast, deep experience with F&B outlets, and strong momentum made us the perfect fit for these properties. We look forward to expanding our presence in the region and continuing to maximize returns for the properties we oversee.”
Adding these two properties to the Raines portfolio is a strong start to 2024 after a stellar 2023, which saw the company acquire HP Hotels, reopen the Waynesville Inn & Golf Club, and end the year with a property launch and conversion.
