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MCR Pays $118M for Hilton Miami Airport Blue Lagoon
Hotel owner-operator MCR has acquired the Hilton Miami Airport Blue Lagoon, a 14-story hotel with 508 rooms in Miami, Florida, for $118.3 million.
McLean, VA-based Park Hotels & Resorts, Inc., a publicly traded lodging real estate investment trust, sold the property for a price that equates to $233,000 per key.
MCR is the fourth largest hotel owner-operator in the US and has a $5.0 billion portfolio of 148 premium-branded hotels with 21,000 guestrooms across 37 states and 103 cities. The company operates nine Marriott brands, eight Hilton brands and a number of unflagged independent hotels.
Park Hotels & Resorts, Inc.’s portfolio currently consists of 46 premium-branded hotels and resorts with over 29,000 rooms primarily located in prime city center and resort locations.
- ◦Sale/Acquisition
