MCR has acquired two hotels in the Phoenix area: the 169-room Holiday Inn Express & Suites Scottsdale – Old Town and the 121-room Hampton Inn by Hilton Phoenix-Biltmore. Both are located in prime, high-barrier-to-entry submarkets in one of the fastest-growing cities in the U.S. The 98,906-square-foot Holiday Inn Express & Suites sold for $23.32 million ($138,000/key) while the 71,269-square foot Hampton Inn traded hands for $25.52 million ($210,910/key).

With the acquisition of these hotels, MCR has nine hotels in Arizona.

Located in Old Town Scottsdale, the all-suite Holiday Inn Express & Suites is near shops, restaurants, art galleries, museums, historic sites and the San Francisco Giants spring training at nearby Scottsdale Stadium. 

The 121-room Hampton Inn Phoenix-Biltmore is located off Camelback Road and close to the Biltmore Fashion Park. It is also near golf courses and the Camelback Mountain.