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WASHINGTON, DC-MCR Development LLC, a New York City-based company acquired 26 Marriott and Hilton hotels from Western International for $430 million.

MCR will own and manage the hotels, each of which will continue to operate under its respective Marriott or Hilton flags, with long-term franchise agreements in place. The portfolio consists of 3,002 rooms in four states with an average age of approximately 4 years old. The deal gives MCR exposure to new markets, says Tyler Morse, CEO of MCR Development, in a prepared statement. “This investment provides great growth opportunities for our team members, and for our company to expand into new markets and continue to deliver high returns to our investors,” he says.

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