LODGING Magazine
NEW YORK—MCR announced it has completed the sale of the 100-room Residence Inn by Marriott Philadelphia Langhorne located in Langhorne, Pennsylvania for $22.1 million, or $221,000 per key. Since the beginning of 2023, MCR has completed a series of dispositions totaling seven hotels for gross proceeds of $174 million, or $210,000 per key. By completing its business plan, MCR doubled the hotel’s net operating income throughout its ownership. The firm purchased the hotel for $13.2 […]
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LODGING Staff