Beemok Capital, the Charleston based single family office of billionaire businessman Ben Navarro recently bough the famous hotel Charleston Place in Charleston, South Carolina. Ben Navarro is born in Charleston and is the founder and CEO of Sherman Financial Group, LLC which owns Credit One Bank.
Charleston Place is one of the most famous hotels in the American South
The hotel opened in 1986 and is one of the most iconic hotels in the South. For a long time the Charleston Place was owned by Belmond Ltd., a hospitality and leisure company, which was bought in 2019 by the LMVH Moët Hennessy luxury conglomerate. Financial terms were not disclosed but sources told the local Charleston newspaper that the hotel would be worth about 500 million USD. The hotel now will go through a revitalisation process which will include the hotel, conference space, restaurants and retail space. This process will take around 18 months and the Charleston place will be governed by the Beemok Hospitality Group.
Beemok Hospitality Group will own and manage hospitality
The newly established Beemok Hospitality Group will manage the Charleston Place. Beemok also owns the Hotel Domestique in Travelers Rest and owns the Daniel Island tennis complex that plays host to the WTA 500 Credit One Charleston Open, which will also be governed by the Beemok Hospitality Group.
Source: Charleston City Paper, 28.10.21
Picture Source: Cody Silver
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