MCR ACQUIRES THREE HOTELS IN NEW JERSEY, FLORIDA

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NEW YORK — MCR Development LLC has acquired three hotels in Florida and New Jersey for approximately $40 million. The properties, which total 329 rooms, include a Homewood Suites by Hilton, Courtyard by Marriott and Hampton Inn & Suites. In addition, MCR recently began the development and expansion of two Residence Inn by Marriott hotels in New Jersey. MCR owns and manages 19 hotels with 2,158 rooms in 10 states.

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