US: MCR has purchased a quintet of Marriott and Hilton properties in Washington and Texas for $94 million.
The properties purchased include five hotels that are designated for limited service or extended stay purposes. The new properties add 674 rooms combined to MCR’s portfolio, which is currently the fourth largest in the United States with over 110 properties and over 15,000 rooms.
The hotels purchased include four Marriott properties and one Hilton. Each hotel is located near a growing metropolitan area, either Seattle, Dallas, or Houston.
The first property, the 146-room Residence Inn by Marriott Seattle South/Renton, which was built in 2019, is located twenty minutes from Downtown Seattle on the waterfront of Lake Washington. The hotel is across the street from Renton’s Boeing assembly plant and is an extended stay property. This pet-friendly hotel includes a number of amenities including free WiFi, kitchens in each suite, a fitness centre, an outdoor patio with a grill, a convenience store, and a bar in the lobby. The facility also offers complimentary breakfast.
In Richardson, a suburb about 30 minutes from downtown Dallas, MCR purchased two new hotels: the 132-room Courtyard by Marriott Dallas Plano/Richardson and the 129-suite Residence Inn by Marriott Dallas Plano/Richardson. The hotels, which are next door to one another, are within minutes of the headquarters of thousands of companies. Both hotels offer amenities such as free WiFi, swimming pools, fitness centres, and convenience stores. For dining, the Courtyard has a Starbucks and a restaurant, and the Residence Inn has in-suite kitchens and a patio.
In Houston’s Energy Corridor, which is 25 minutes from downtown Houston, MCR purchased two hotels that are near a number of major company headquarters and two nearby hospitals. The hotels, the 132-room Courtyard by Marriott Houston I-10 West/Park Row and the 135-room Hampton Inn & Suites by Hilton Houston I-10 West/Park Row, both offer free WiFi, fitness centres, convenience stores, and swimming pools. The Hampton Inn offers complimentary breakfast, and the Courtyard has a bistro that serves breakfast and dinner.
The purchase of the five hotels totaled about $94 million.
