The luxury brand announced the sale of the Charleston property to Navarro’s family office. The hotel, which becomes part of Beemok Hospitality Group, will continue to be managed by Belmond for a “transition period” following the completion of the deal.

“We are pleased that following a thorough review, we have found a buyer for Charleston Place who will continue to steward and invest in this iconic property for many years to come,” said Roeland Vos, Belmond’s chief executive.

“As a prominent Charleston businessman and philanthropist with deep ties to the city, Ben and his family are significant investors in the community and the sale marks an exciting milestone in the ongoing story of this great property.”

The hotel in Charleston’s historic centre features 433 rooms, five restaurants and the Riviera Theatre, as well as a spa and shopping precinct.

“While Charleston Place is already a landmark property within Charleston and the southeast as a whole, we are excited to begin revitalising the space and are committed to ensuring it remains a luxurious and unique hotel for the local Charleston community and visitors to enjoy,” added Casey Lavin, president of Beemok Hospitality Group.