MCR has acquired the iconic Gramercy Park Hotel in New York City.

MORSE Development, which developed the experiential TWA Hotel at New York City’s JFK Airport, will bring back the magic and glamour of the five-star hotel, which has been closed since 2020. An extensive renovation will revitalize the lobby, the first-floor restaurants and bars, and the hotel’s 197 guestrooms and suites. The spectacular 7,000-square-foot rooftop bar — the only venue with a view of the exclusive Gramercy Park — will also receive a full restoration.

“We will return this beloved hotel to its original splendor as the jewel of Gramercy Park — one of the most magical and unique neighbourhoods in Manhattan,” says Tyler Morse, Chairman and CEO of MCR/MORSE Development.

Built in 1924 on the site where Pulitzer Prize-winning novelist Edith Wharton was born, the 18-story luxury hotel has a rich history as a haunt for athletes (Babe Ruth frequented the bar), politicians (a young John F. Kennedy Jr. stayed there with his father) and screen legends (Humphrey Bogart married stage actress Helen Menken there in 1926). But it was a true favorite of rock stars. The Clash, U2, Bob Dylan and the Rolling Stones all booked rooms during their tours. Blondie’s Debbie Harry lived in room 501. Madonna, who worked as a hat-check girl at the nearby club Danceteria, partied afterhours at the hotel. And when David Bowie checked in for two weeks in 1973 at the height of his The Rise and Fall of Ziggy Stardust and the Spiders From Mars fame, the hotel was nicknamed “The Glamercy.” As Rolling Stone put it in 2018, “it was probably one of the only places you could call up room service to order a pick or a guitar string.”

MCR Acquires Three Hotels in Florida

MCR — the 3rd-largest hotel owner-operator in the U.S. has acquired three hotels in Florida. Totalling 384 rooms, the portfolio includes a Hampton Inn by Hilton, a Courtyard by Marriott and a Hyatt Place in Orlando and Daytona Beach — both among Florida’s fastest-growing markets. With this portfolio acquisition, MCR now has 13 hotels in Florida.

How magical! The 169-room Hyatt Place Orlando/Lake Buena Vista is located a few miles from Walt Disney World Resort and in walking distance of the world-class shopping, dining and entertainment offered in the Disney Springs district. It’s also a short drive from iconic destinations like The Wizarding World of Harry Potter and Universal Studios.

Race to the beach! Located just off State Road A1A and directly on the water, the 111-room Hampton Inn Daytona Shores features a sunny pool deck and direct access to the beach. It’s also conveniently located near numerous dining and golfing options. The Ocean Center convention arena and Daytona Beach Golf Club are both five miles away and the famous Daytona International Speedway is less than 20 minutes from the hotel!

Go, Hatters, go! The newly built, 104-room Courtyard Marriott DeLand Historic Downtown is the only hotel located downtown next to Stetson University, a private university with more than 4,000 students. The hotel is also within walking distance of top local attractions including SkyDive DeLand, Downtown DeLand and the Athens Theatre, as well as plenty of local shops and restaurants.

MCR acquires the Hilton Miami Airport Blue Lagoon

MCR — the 4th-largest hotel owner-operator in the U.S. — has acquired the Hilton Miami Airport Blue Lagoon, a 14-story hotel with 508 rooms in Miami, Florida. With a prime waterfront setting within the Blue Lagoon business park, the hotel is located just south of Miami International Airport (MIA). This is the company’s second hotel in the Miami airport submarket following the acquisition of the Hyatt Place Miami Airport East in December of 2022 and its tenth hotel in Florida.

MIA is the busiest airport for international passengers and international freight in the U.S. and provides a hub for over 90 air carriers. International traffic continues to ramp back up following the pandemic and overall passenger volume through MIA was up over 10% in 2022 compared to 2019 based on the latest data available. And with a $5 billion capital improvement and expansion plan underway, it’s only going to get busier.

Tourism remains the top industry in “the 305,” but it is also home to the largest concentration of international banks in the U.S., as well as many major Fortune 500 companies. With its prime location near the airport, the Blue Lagoon business park has over four million square feet of office space and serves as the headquarters for nationally recognized names including Burger King and Lennar, as well serving as the Latin American headquarters for Sony, Airbus, Novartis, Hasbro, Estée Lauder and Olympus.

MCR Acquires the Courtyard Dallas Grand Prairie

MCR – the 4th-largest hotel owner-operator in the U.S. – has acquired the Courtyard Dallas Grand Prairie, a four-story, select service hotel with 120 rooms in Grand Prairie, Texas. The hotel was purchased with acquisition financing from American Momentum Bank in place, at a rate of SOFR plus 260 basis points and a 65% loan to value.

Opened in 2021, the hotel is located 20 minutes south of the Dallas Fort Worth International Airport – the second busiest airport in the U.S. serving the country’s fastest-growing metropolitan area. The Dallas Fort Worth MSA is now home to almost eight million residents, representing an increase of 22 percent over the past decade. And it’s a market the MCR team knows well: this hotel is the company’s eighth hotel in Dallas and its 39th hotel in Texas.

Grand Prairie's attractions draw in almost 10 million visitors per year. The hotel is a short, 10-minute drive from the Arlington Entertainment District, where you’ll find something for everyone. Sports fans can catch a Dallas Cowboys game at AT&T Stadium or see the Texas Rangers play at the new Globe Life Field. Families can enjoy the day at two major theme parks, riding the roller coasters at Six Flags over Texas or cooling off at the massive water park that is Hurricane Harbor Arlington. Texas Live! is the place for a night out, with its numerous dining and entertainment options, or take in a live show at Arlington Backyard, Arlington’s premier outdoor concert and festival destination.