MCR purchased the SpringHill Suites hotel in Glen Allen for $11 million. (MCR)
One the nation’s largest hoteliers is doubling down on metro Richmond.
New York-based MCR announced Wednesday it’s moving forward with plans to renovate the 136-room SpringHill Suites by Marriott at 9701 Brook Road after purchasing the asset near Virginia Center Commons in February.
MCR purchased the hotel from Ashford Richmond LP for about $10.9 million, according to Henrico County records. The site was most recently assessed for $8.5 million.
The hotel, built in 2001, features an indoor pool, fitness center, 300 square feet of meeting space and a 24-hour business center.
Chad Newman, MCR regional director of operations, said the renovation will be applied to all the hotel’s rooms and common areas, but would not disclose an overall investment amount for the project. He said the renovations would not include changing the hotel’s brand.
MCR is the seventh-largest hotel owner-operator in the U.S., with more than 11,200 rooms in 94 hotels, according to its website.
This is the firm’s second metro Richmond hotel holding.
The company purchased the Hilton Garden Inn at 4050 Cox Road in September 2014, Newman said. It also owns several hotels in Hampton Roads and northern Virginia.
Newman said the company was drawn to the latest deal in part because of the region’s network of highways and access to big employers.
“We have a number of business partners in the area and the location of the hotel made it appealing for the company to purchase,” he said.
MCR’s recent acquisition comes as several new hotels are in the works in the western Henrico County area.
Work is ongoing on the region’s first Drury Hotel at 11049 W. Broad St., where the St. Louis-based chain plans to construct an eight-story, 217-room facility.
Site plans have been filed with Henrico County Planning to start construction on Chester-based Shamin Hotel’s 126-room, six-story Hampton Inn & Suites west of the GreenGate development. The firm also is planning the region’s first Home2 Suites by Hilton at 209 Towne Center West Blvd. in the Towne Center West development.
MCR purchased the SpringHill Suites hotel in Glen Allen for $11 million. (MCR)
One the nation’s largest hoteliers is doubling down on metro Richmond.
New York-based MCR announced Wednesday it’s moving forward with plans to renovate the 136-room SpringHill Suites by Marriott at 9701 Brook Road after purchasing the asset near Virginia Center Commons in February.
MCR purchased the hotel from Ashford Richmond LP for about $10.9 million, according to Henrico County records. The site was most recently assessed for $8.5 million.
The hotel, built in 2001, features an indoor pool, fitness center, 300 square feet of meeting space and a 24-hour business center.
Chad Newman, MCR regional director of operations, said the renovation will be applied to all the hotel’s rooms and common areas, but would not disclose an overall investment amount for the project. He said the renovations would not include changing the hotel’s brand.
MCR is the seventh-largest hotel owner-operator in the U.S., with more than 11,200 rooms in 94 hotels, according to its website.
This is the firm’s second metro Richmond hotel holding.
The company purchased the Hilton Garden Inn at 4050 Cox Road in September 2014, Newman said. It also owns several hotels in Hampton Roads and northern Virginia.
Newman said the company was drawn to the latest deal in part because of the region’s network of highways and access to big employers.
“We have a number of business partners in the area and the location of the hotel made it appealing for the company to purchase,” he said.
MCR’s recent acquisition comes as several new hotels are in the works in the western Henrico County area.
Work is ongoing on the region’s first Drury Hotel at 11049 W. Broad St., where the St. Louis-based chain plans to construct an eight-story, 217-room facility.
Site plans have been filed with Henrico County Planning to start construction on Chester-based Shamin Hotel’s 126-room, six-story Hampton Inn & Suites west of the GreenGate development. The firm also is planning the region’s first Home2 Suites by Hilton at 209 Towne Center West Blvd. in the Towne Center West development.