MCR Sells Residence Inn By Marriott Langhorne For $22.1M

The 100-room Residence Inn by Marriott in Langhorne, PA, has been sold for $22.1 million. The property, located at 15 Cabot Boulevard East, was sold by MCR, the third-largest hotel owner-operator in the U.S. The sale of the hotel follows a series of seven hotel dispositions that MCR has completed since 2023. In June 2020, the hotel underwent a $3 million upgrade, resulting in a doubling of its net operating income under MCR's ownership. The sale aligns with MCR's strategy of creating value and taking advantage of opportunistic selling opportunities.

Summary of transation details

• Property Type: Hotel
• Transaction Amount: $22,100,000
• Address: 15 Cabot Boulevard East, Langhorne, PA
• Seller: Tyler Morse - MCR

This transaction was facilitated by Tyler Morse, Chairman and CEO of MCR. Through the sale of the Residence Inn by Marriott, MCR continues to execute its value creation strategy in the hospitality industry.