MCR, the seventh-largest hotel owner-operator in the United States, has purchased two Marriott hotels located in Lehi. Both properties, the Courtyard Lehi and SpringHill Suites, are situated near the entrance to Thanksgiving Point, Lehi’s business and leisure hub. The properties were purchased for $27.5 million, MCR said.
“We are very excited to make this investment in Salt Lake City’s Silicon Slopes technology corridor,” said Tyler Morse, CEO and managing partner of MCR. “Given the array of demand generators supported by the city’s strong business climate and its highly educated workforce, we believe both properties are well positioned to outperform and generate positive returns for our business. These hotels represent an attractive combination of in-place yield with upside potential in the years to come.”
MCR has invested in or developed 94 hotel properties with over 11,000 rooms in 24 states. MCR operates under 10 brands from offices in New York City and Dallas.