mcr

MCR Acquires Residence Inn By Marriott Albuquerque Airport

MCR | June 26, 2019

NEW YORK / JUNE 26, 2019 - Hot! Hot! Hot! MCR, the sixth-largest hotel owner-operator in the United States, has acquired the 110-room Residence Inn by Marriott Albuquerque Airport. Just 5 miles southeast of downtown, the property is close to many of the city’s sizzling destinations for work and play. New Mexico is known for its Hatch chiles: the carne adovada, a slow-cooked pork dish in red chile sauce, is legendary at Albuquerque’s Mary & Tito’s Café, though you’ll even find green chiles at McDonald’s! Yet these days what’s heating up the Duke City is the arrival of tech companies. Netflix recently purchased ABQ Studios, ...

MCR Acquires Courtyard by Marriott Newark Downtown in New Jersey

MCR | June 20, 2019

NEW YORK / JUNE 20, 2019 - Sweet dreams are made of this: MCR, the sixth-largest hotel owner-operator in the United States, has acquired the 150-room Courtyard by Marriott Newark Downtown. The pitch-perfect property is just steps from the Prudential Center, one of New Jersey’s premier venues for live music. The Courtyard by Marriott Newark Downtown made history when it debuted in 2012 as the city’s first new hotel in 40 years — and its prime location will help concertgoers get into the groove this summer. Hang tough with New Kids on the Block (along with fellow 90s sensations Salt-N-Pepa, Tiffany, Debbie Gibson and Naughty by Nature)...

MCR Acquires Two Properties in Northwest Indianapolis

MCR | May 7, 2019

NEW YORK, NY / MAY 7, 2019 Revved up about Indy! MCR, the sixth-largest hotel owner-operator in the United States, has acquired two hotels in the Racing Capital of the World, the 110-room Hampton Inn Indianapolis Northwest – Park 100 and the 78-room Residence Inn by Marriott Indianapolis Northwest. Both properties are less than 10 miles from the legendary Indianapolis Motor Speedway, home of the thrilling Indy 500 car race. Every Memorial Day weekend, the 33 greatest drivers in the sport go full throttle for 200 laps around a 2.5-mile oval circuit in a quest for glory — and the traditional bottle of cold milk that goes to th...

MCR Sells the Hampton Inn & Suites St. Augustine-Vilano Beach

MCR | January 3, 2019

NEW YORK / JANUARY 3, 2019 MCR, the sixth-largest hotel owner-operator in the United States, has sold the 94-room Hampton Inn & Suites St. Augustine-Vilano Beach, located at 95 Vilano Road, St. Augustine, Florida. The firm purchased the hotel in 2012. MCR generated a 35% IRR and a 3.7X equity multiple on the investment. The transaction closed on December 12, 2018. "The substantial returns generated by this sale are a credit to MCR's best in class operations team," says Tyler Morse, CEO and Managing Partner of MCR and MORSE Development. "We pride ourselves on our excellent guest relations, our strong sense of teamwork and the overal...

MCR Sells 195-Room Hilton St. Louis Downtown at the Arch

MCR | September 10, 2018

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 MC...

MCR Acquires 140-Key SpringHill Suites Fairfax Fair Oaks in Northern Virginia

MCR | July 25, 2018

NEW YORK / JULY 25, 2018 MCR, the seventh-largest hotel owner-operator in the United States, has acquired the 140-room SpringHill Suites Fairfax Fair Oaks in Northern Virginia, which received a $1.4 million top to bottom renovation last year. Just 20 minutes from Dulles International Airport (IAD), Fairfax, Virginia offers something for everyone in the family. See the first supersonic airliner, a Concorde jet, at the nearby Smithsonian Air & Space Museum Steven F. Udvar-Hazy Center, learn how George Washington made whiskey in 1799 at Mount Vernon's working distillery and ride Cannonball Slides at SplashDown Waterpark. When business ...

MCR Acquires 160-Room Hilton Garden Inn Providence Airport/Warwick at Rhode Island’s T.F. Green International Airport

MCR | July 20, 2018

NEW YORK / JULY 20, 2018 MCR, the seventh-largest hotel owner-operator in the United States, has acquired the 160-room Hilton Garden Inn Providence Airport/Warwick at Rhode Island's T.F. Green International Airport (PVD), which serves 4 million passengers annually. Since 2017, T.F. Green International Airport has added six new carriers, many overseas routes and nearly 8 percent more passengers. Ranked the sixth-best U.S. airport in 2018 by Money magazine, PVD was praised for its on-time arrival rate of 82 percent. The airport's growth is nonstop: In 2021, JetBlue founder David Neeleman is expected to launch his start-up airline, Moxy, a...

MCR Selected to Manage 259-Room Miami International Airport Hotel Located at Concourse E

MCR | June 5, 2018

NEW YORK / JUNE 5, 2018 MCR, the seventh-largest hotel owner-operator in the United States, is now managing the 259-room Miami International Airport Hotel. Located pre-security at the departures level of Concourse E, it is the only hotel at Miami International Airport, which serves more than 44 million passengers annually. In partnership with the Miami-Dade Aviation Department, MCR will deliver a first-class experience for guests on layovers and early birds eager to be one security check away from their gates. The company also aims to welcome travelers from around the world to MIA — the nation's third-busiest airport for internati...