Design Update

MCR Completes Value-Enhancing Cosmetic Improvements at SpringHill Suites in Tempe, Arizona

February 10, 2015

MCR Development LLC (“MCR” or “the Company”), one of the largest hotel owner-operators in the United States, today announced it has completed value-enhancing cosmetic improvements at SpringHill Suites Tempe at Arizona Mills Mall, located at 5211 South Priest Drive in Tempe, Arizona.

The improvements, which are part of MCR’s strategy to drive RevPAR growth, entailed refitting all 121 suites with new furniture, new carpeting throughout the hallways and in-suite upgrades including new coffee tables, granite-topped end tables, new desks and resurfaced wet bars. Additionally, all suites have been upgraded to include new crisp linens, elegant fixtures, comfortable sleeper sofas, mini-fridges, microwaves, and coffee makers.

SpringHill Suites Tempe at Arizona Mills Mall offers convenient access to Phoenix Sky Harbor Airport, Arizona Mills Mall and Arizona State University and is situated at the gateway to the Tempe high-tech area in proximity to companies such as Bank of America, Insight and Intel. Hotel amenities include free high speed internet, an attractive outdoor area featuring a heated swimming pool, lush landscaping, fire and barbecue pits, and a high-quality fitness center. The hotel also offers a complimentary hot breakfast buffet and shuttle service.