MCR has refinanced a 16-hotel portfolio for $333 million, generating $51 million of net proceeds.
In less than three years, MCR doubled the portfolio’s net operating income, increasing it from $15 million at acquisition to $36 million. This represents a 9.4% cap rate on MCR’s cost basis in the hotels.
The remarkable growth is a result of MCR’s data-driven and detail-oriented approach to hotel ownership: MCR measures 112 items for each of its 150 hotels every day, streamlining operations and ensuring every hotel delivers a consistent, enjoyable experience for guests.
