MCR Sells the Residence Inn by Marriott Seattle South/Renton

NEW YORK--(BUSINESS WIRE)-- MCR — the country’s 3rd-largest hotel owner-operator — today announced it has completed the sale of the 146-room Residence Inn by Marriott Seattle South/Renton located in Renton, Washington for $55.5 million, or approximately $380,000 per key. The transaction closed on October 18, 2023. The firm purchased the hotel for $41.8 million, or approximately $286,000 per key, in June 2021.

About MCR

• 3rd-largest hotel owner-operator in the United States
• $5.0 billion portfolio of 150 premium-branded hotels
• MCR operates 9 Marriott brands, 8 Hilton brands and a number of unflagged independent hotels
• Over 25,000 guestrooms across 33 states and 107 cities
• Founded in 2006
• Offices in New York City, Dallas, Chicago and Richmond, Virginia
• 7,000 team members across the country
• Three-time recipient of the Marriott Partnership Circle Award, the highest honor Marriott presents to its owner and franchise partners
• Recipient of the Hilton Legacy Award for Top Performer
• For the TWA Hotel at New York’s JFK Airport, MCR won the Development of the Year (Full Service) Award at The Americas Lodging Investment Summit (ALIS), the Urban Land Institute New York Excellence in Hotel Development Award and the American Institute of Architects national Architecture Award, the highest honor given by the AIA
• Named one of Fast Company’s 10 Most Innovative Travel Companies of 2020
• For more information, please visit mcrhotels.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20231019531963/en/

[email protected]
(203) 682-8277

Source: MCR

You May Also Be Interested In

• Ivonescimab Monotherapy Demonstrates a Statistically Significant & Clinically Meaningful Benefit Compared to Pembrolizumab Monotherapy in PD-L1-Positive Advanced NSCLC in Akeso’s HARMONi-2 Study
• Glenfarne Group Promotes Oliver Wood to Global Head of Projects
• Apeing Presale Surpasses $80,000 in Contributions as Stage 4 Launch Approaches