MCR Accommodations CEO Tyler Morse and Hyatt Location Miami Airport-East at 3549 LeJeune Highway (MCR Resorts, Google Maps)
MCR Hotels picked up a Hyatt-branded house around Miami Intercontinental Airport, doubling its South Florida portfolio.
An affiliate of Dallas-dependent MCR compensated $16.6 million for the Hyatt Area Miami Airport-East at 3549 Le Jeune Street in Miami, records display. The offer breaks down to about $123,000 for each key for the 135-room resort.
Attorneys Michael Gallinar and Jason Camps with Miami-dependent law organization Adams Gallinar represented the vendor, a joint undertaking between Coconut Grove-centered Aztec Group and Raleigh, North Carolina-primarily based Harmony Hospitality.
Aztec and Harmony had procured the 1.1-acre web page for $2 million in 2012, documents exhibit. The partnership accomplished the six-tale resort in 2015.
Led by CEO Tyler Morse, MCR’s $5 billion portfolio encompasses 148 lodges with a lot more than 21,000 rooms across 37 states, in accordance to the firm’s web site. In Pompano Beach front, MCR made a Home Inn by Marriott with 112 rooms in 2015 that the firm even now owns, documents clearly show.
South Florida’s lodging industry has stabilized since the pandemic started to subside past year. Over the last 12 months, tourism rose by 15.3 percent in comparison to last yr. And Miami-Dade’s year-to-day occupancy fee strike 72.2 p.c, a 6.5 p.c boost when compared to the similar time period of last 12 months, in accordance to state and county statistics.
The common everyday space fee for 2022 was $251, up from $211 last yr.
Amid major hotel promotions of the previous yr, like the $232 million top rated sale of the Confidante Miami Seashore, numerous smaller sized economic system and enterprise traveler lodging establishments also traded.
Very last thirty day period, Highgate Cash Administration sold a La Quinta Inn by Wyndham hotels in Palm Beach County for $13 million. In September, the Irving, Texas-based mostly hospitality developer offered two other La Quinta homes close to Miami Global Airport for a mixed $17 million.
Blackstone also marketed a Hampton Inn home in Tamarac for $17.8 million in November.
