January 03, 2019
MCR, the sixth-largest hotel owner-operator in the United States, has sold the 94-room Hampton Inn & Suites St. Augustine-Vilano Beach, located at 95 Vilano Road, St. Augustine, Florida. The firm purchased the hotel in 2012.
MCR generated a 35% IRR and a 3.7X equity multiple on the investment. The transaction closed on December 12, 2018.
“The substantial returns generated by this sale are a credit to MCR’s best in class operations team,” says Tyler Morse, CEO and Managing Partner of MCR and MORSE Development. “We pride ourselves on our excellent guest relations, our strong sense of teamwork and the overall quality of our Hilton- and Marriott-branded hotels throughout the United States.”