Latham Guides Investor's $430M Hotel Portfolio Purchase

Law360, New York (October 18, 2013, 2:10 PM EDT) -- Hotel investor MCR Development LLC has picked up a portfolio of Marriott- and Hilton-branded hotels for $430 million from Western International, MCR said Friday.

Per the deal, New York-based MCR will scoop up 26 properties spread across four states, each of which have long-term franchise agreements tacked onto them with either Marriott International Inc. or Hilton Worldwide Inc. MCR will also take over management of the properties, it said.

"We are excited to expand our partnership with the Marriott and Hilton brand families," Tyler Morse, MCR's...
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