Despite housing slump, hotel business booming in Charleston

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Despite housing slump, hotel business booming in Charleston
November 1, 2011
The Republic


Charleston, S.C. — A hotel at the edge of Charleston's Historic District has sold for $42 million, another indication that the lodging business in Charleston is booming despite the troubled economy.

The Post and Courier of Charleston reports that (http://bit.ly/u56Lgxyth ) RLJ Lodging Trust bought the Courtyard by Marriott Charleston Historic District in an all-cash deal. The 176-room hotel is near Marion Square.

Late last year the Renaissance Charleston Historic District Hotel sold for $39 million. There currently are six more hotels planned for downtown Charleston.

The city was recently named the top tourist destination in North America by Conde Naste Traveler magazine.

Tourism is a $14 billion industry in South Carolina and about 4 million people visit Charleston each year.