MCR Development Acquires Courtyard By Marriott DeLand And Hampton Inn Daytona Shores Oceanfront For $31.6M

MCR Development, the nation's third-largest hotel operator, has acquired two hotels in Volusia County, Florida. The properties include the Courtyard by Marriott in downtown DeLand and the Hampton Inn Daytona Shores Oceanfront in Daytona Beach Shores. This acquisition expands MCR's portfolio of premium-branded hotels and marks their entry into the Volusia County market.

Summary of transation details

• Property Type: Hotel
• Transaction Amount: $31,600,000
• Keys: 215
• Price Per Key: $146,977

The buyer, MCR Development, is a New York-based hotel operator. The seller is Avista Properties. The Hampton Inn Daytona Shores Oceanfront is located at 3135 South Atlantic Avenue, and the Courtyard by Marriott is located at 308 North Woodland Boulevard.