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MCR Refinances 16 Hotels for $333 Million

February 8, 2024

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.

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