MCR Development Acquires Ten Hotels in Maryland from Skye Hospitality
The Portfolio Totalling 1,294 Guest Rooms will be Managed by MCR Property
NEW YORK - December 24, 2012 - MCR Development LLC announced today that it has acquired ten Marriott and Hilton hotels from Skye Hospitality.
The portfolio is comprised of 1,294 rooms and is characterized by its young age, high-quality construction, and prominent visibility in four Baltimore submarkets: Arundel Mills, Downtown Baltimore / Camden Yards, Hunt Valley, and White Marsh. The hotels will be managed by MCR Property Management, and all ten of the properties will continue to be branded under long-term license agreements with Marriott and Hilton's select service and extended stay brands.
"This portfolio is a great addition to MCR and we are excited about the opportunity to expand our relationship with Marriott and Hilton,” said Tyler Morse, MCR's Chief Executive Officer. “This investment, along with our four earlier acquisitions this year, underscores our commitment to strategically and opportunistically acquiring quality hotel properties in high barrier to entry markets.”
About MCR Development
Headquartered in New York and Dallas, MCR Development LLC is a hotel investment firm and a hotel management company which owns and manages 30 hotels with 3,500 rooms located in 11 states. MCR operates hotels under 9 brands and has approximately 1,000 employees.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
