NATIONAL REPORT—This week, the activity is heating up in terms of acquisitions. White Lodging has acquired a property in Tennessee, and MCR has bought three hotels in Illinois.
White Lodging Acquires the Marriott in Nashville, TN
The Marriott Nashville Hotel at Vanderbilt University has been acquired by an affiliate of White Lodging Services Corporation. The 311-unit hotel has just undergone a complete guestrooms and corridor renovation. The property is the only hotel on Vanderbilt’s campus.
MCR Buys Three Hotels
MCR has acquired three Hilton-branded hotels in Champaign, IL: Home2 Suites by Hilton Champaign/Urbana; Hilton Garden Inn Champaign/Urbana; and Homewood Suites by Hilton Champaign/Urbana.
“These three well-located Hilton-branded properties are positioned to benefit significantly from the University of Illinois’ continued growth and are expected to produce attractive returns for our investors,” said Tyler Morse, CEO and managing partner of MCR. “The acquisition continues our investment strategy of purchasing premium-branded, select-service and extended-stay hotels with operations upside.”