BLUFFTON, S.C. — Crescent Communities, a diversified real estate investment, development and operating company, announced Monday it will invest more than $100 million to expand the Inn at Palmetto Bluff in Bluffton.
Montage Hotels & Resorts, a luxury hotel management company, will become the new operator of the expanded Inn, effective Feb. 1, 2014, and the resort will be marketed as The Inn at Palmetto Bluff, a Montage Resort.
The expansion will add 150 luxury rooms to the Inn’s 50 individual cottages — in a collection of buildings — and will feature a destination spa and fitness center, meeting and special event facilities and expanded dining facilities for guests and Palmetto Bluff property owners.
The Athens Group, known for its sustainable luxury resort developments, will serve as development partner to manage the expansion.
Crescent’s announcement estimates the expansion and related growth in the surrounding community will have a positive fiscal impact of more than $500 million over the next 10 years.
“Crescent is thrilled to announce this significant investment to consecrate Palmetto Bluff as the quintessential southern experience,” said Crescent Communities CEO Todd Mansfield. “This expansion, along with Montage’s strong record of delivering extraordinary guest service, will enable Palmetto Bluff to continue providing award-winning hospitality while maintaining the original vision of this special place.”
Alan Fuerstman, founder and CEO of Montage Hotels & Resorts, said the Inn at Palmetto Bluff has a history of being a premier Lowcountry destination.
“We are delighted to add Palmetto Bluff to our portfolio and to be a part of making truly memorable experiences for our guests at this enchanting destination in the future,” Fuerstman said.
ABOUT CRESCENT COMMUNITIES
Founded in 1969 in Charlotte, N.C., Crescent Communities is a diversified real estate investment, development and operating company whose portfolio includes 27 master-planned communities, as well as 19 multifamily projects with 5,420 units under construction or in pre-development. The company owns and manages approximately 45,000 acres, including 800 acres zoned for commercial use.
For more information, go to http://www.crescentcommunities.com/.
ABOUT MONTAGE HOTELS & RESORTS
Montage Hotels & Resorts is a hotel and resort management company founded by Alan J. Fuerstman. Designed to serve the luxury traveler and homeowner, the company features an artistic collection of distinctive hotels, resorts and residences. For more information, go to www.montagehotels.com/palmettobluff.
ABOUT ATHENS GROUP
The Athens Group, headquartered in Phoenix, is a full-service real estate development company specializing in the development of upscale resort communities, luxury resort hotels, golf courses and redevelopment projects.
For more information, go to www.athensdevco.com.
For more information about the Inn at Palmetto Bluff, go to www.palmettobluff.com.