NEW YORK / SEPTEMBER 10, 2018 MCR, the sixth-largest hotel owner-operator in the United States, has sold the 195-room Hilton St. Louis Downtown at the Arch, located at 400 Olive Street in St. Louis, Missouri. The firm purchased the hotel in December 2016.
MCR generated a 44% IRR on the investment. The transaction closed September 6, 2018.
“The returns generated by the sale of this property are a testament to MCR’s investment strategy: purchasing well-located hotels, improving operations and selling opportunistically — in this case, less than two years after acquiring the property,” says Tyler Morse, CEO and Managing Partner of MCR and MORSE Development.