MCR Hotels explained

MCR Hotels
Industry:Hospitality
Predecessors:-->
Founder:Tyler Morse
Successors:-->
Hq Location Country:United States
Areas Served:-->
Key People:Tyler Morse, Chairman & CEO
William White, CFO
Owners:-->
Footnotes:[1] [2]

MCR Hotels is an American hotel owner-operator. It is the third largest hotel owner in the United States by room count,[3] with 25,000 rooms and hotels that include The High Line and TWA hotels.

History

MCR Hotels was founded by Tyler Morse in 2006. Its first hotel was built in Huntsville, Alabama the same year. In 2012, MCR Hotels purchased a historic dormitory of General Theological Seminary that was built in 1895.[4] The building was converted into The High Line Hotel which was opened in May 2013.[5]

In 2015, MCR and JetBlue negotiated the rights to turn the head house of the TWA Flight Center into a new hotel.[6] The TWA Hotel opened on May 15, 2019[7] and is the only hotel operating within the boundaries of JFK Airport.[8] By 2019, the company owned 90 hotels in 29 states.[9]

MCR purchased the Sheraton New York Times Square Hotel in 2020 along with Island Capital Group.[10] The same year, it also purchased the cloud-based property management system StayNTouch[11] and the Royalton Hotel with plans to renovate the property.[12]

In 2021, MCR Hotels purchased the Lexington Hotel in New York City.[13] It also purchased the Housekeeping software firm Optii the same year.[14]

MCR acquired the former Hotel Constance out of bankruptcy in 2022. The same year, it re-opened the hotel under the name Pasadena Hotel & Pool after $4 million in renovations.[15] MCR acquired a 99-year lease on the Gramercy Park Hotel in 2023, with plans to reopen the hotel in 2025.[16]

On February 21, 2024, BT Group announced the sale of London's BT Tower to MCR Hotels for £275 million, with plans to repurpose the landmark communications tower as an iconic hotel.[17]

External links

Notes and References

  1. News: Portfolio . 17 December 2023 . MCR Hotels.
  2. News: Senior Leadership . 23 December 2023 . MCR Hotels.
  3. News: Kelleher . Suzanne Rowan . U.S. Hotel Group To Turn London’s Iconic BT Tower Into A Hotel . 20 May 2024 . Forbes . 21 February 2024.
  4. News: Geberer. Raanan. A Seminary, A Hotel, and Santa Claus. New York Press. May 26, 2015 . November 14, 2018.
  5. Web site: Alberts . Hana R. . High Line Hotel, Once Seminary Quarters, To Open In May . Curbed . December 17, 2020 . May 29, 2013.
  6. News: Karmin . Craig . JetBlue Wants to Turn Former TWA Terminal Into Hotel . The Wall Street Journal . April 18, 2015 . April 14, 2015.
  7. Web site: The TWA Hotel Takes Flight at J.F.K. . The New York Times . May 15, 2019 . May 18, 2019.
  8. News: Matthews . Karen . . Hotel at iconic TWA terminal will evoke glamour of jet age . USA TODAY . October 12, 2017 . December 26, 2017.
  9. News: Meyer . Ellen . Rocking The Boat . 23 December 2023 . Lodging Magazine . November 2019.
  10. Web site: April 21, 2022. Island Capital Group and MCR Acquire Sheraton New York Times Square Hotel for $373M. Hospitality Net.
  11. News: O'Neil . Sean . Group That Operates TWA Hotel Buys Chinese Tech Firm After President Trump’s National Security Order . 23 December 2023 . Skift . 21 August 2020.
  12. Web site: Karmin . Craig . September 15, 2020 . Royalton Hotel's New Owner Says Days of Velvet Rope Are Over . January 20, 2023 . Wall Street Journal . 0099-9660 . January 20, 2023 . https://web.archive.org/web/20230120174152/https://www.wsj.com/articles/royalton-hotels-new-owner-says-days-of-velvet-rope-are-over-11600171201 . live.
  13. Web site: MCR acquires NYC hotel for $185M. Jena Tesse. Fox. July 22, 2021. Hotel Management.
  14. News: Sperance . Cameron . TWA Hotel Parent MCR Snaps Up Housekeeping Software Firm Optii . 23 December 2023 . Skift . 6 December 2021.
  15. News: Pasadena Hotel & Pool Opens At Site of Former Hotel Constance . 2 January 2024 . Pasadena Now . 3 November 2022.
  16. News: MCR Hotels acquires Gramercy Park Hotel lease for $50M . 17 December 2023 . The Real Deal . 25 August 2023.
  17. Web site: BT Group announces sale of BT Tower to MCR Hotels.

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