New York- and Dallas-based MCR Development LLC announced Monday it has acquired a portfolio of 18 Marriott and Hilton hotels — including one in the Tulsa area — for approximately $206 million.
The local property bought was Hampton Inn & Suites by Hilton Tulsa South-Bixby, located in Regal Plaza at 8220 E. Regal Place.
Collectively, the portfolio represents 1,787 rooms across 11 states. Other than Tulsa, locations include Charlotte, Savannah, Cincinnati and San Antonio.
The portfolio has an average age of less than 10 years and is unencumbered by management agreements. All hotels were acquired with fee simple title.
MCR, the seventh-largest hotel owner-operator in the United States, will own and oversee the portfolio. All of the hotels will continue to operate under the Marriott or Hilton brand names, with long-term franchise agreements in place.
“This acquisition significantly enhances the size and scale of our premium branded select service hotel portfolio in the United States,” Tyler Morse, CEO and managing partner of MCR Development, sdaid in a press release.
"Adding this collection of high-quality assets further strengthens our relationship with Marriott and Hilton as our portfolio will now include 50 Marriott and 31 Hilton hotels."
The acquisition brings MCR’s portfolio to 88 hotels with approximately 10,000 rooms in 23 states.