Hotel Located in the Center of the Lehigh Valley’s High Growth Industrial Corridor
NEW YORK--(BUSINESS WIRE)-- MCR, the seventh largest hotel owner-operator in the United States, today announced that it has acquired the 111-room Hilton Garden Inn Allentown West located in Allentown, PA, for $15.0 million. The property is located at the intersection of I-78 and PA Route 100, which is the center of the Lehigh Valley’s manufacturing and logistics industry.
This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171128005796/en/
Hilton Garden Inn Allentown West (Photo: Business Wire)
“We are very pleased to make this investment in the Lehigh Valley, a region MCR has successfully invested in previously,” said Tyler Morse, Chief Executive Officer and Managing Partner of MCR. “Given the array of demand generators supported by the area’s strong business climate and continued investment from major corporations, we believe the property is well positioned to generate positive returns for our investors.”
The hotel’s location in the center of the region’s high growth economy includes major manufacturing and distribution operations for Samuel Adams, Volvo Mack Trucks, Nestle, Amazon, and others. The hotel also welcomes guests visiting nearby attractions including Lehigh University, Kutztown University, the Crayola Factory, Dorney Park, and local vineyards.
Situated at 230 Sycamore Road, the property features an indoor pool, fitness center, free Wi-Fi, 1,330 sq ft of meeting space accommodating up to 80 people, The Great American Grill, a 24-hour business center and a 24-hour Pavilion Pantry®. Guest rooms offer a spacious work area, 42-inch flat-screen TVs, and coffeemaker.
MCR is the seventh largest hotel owner-operator in the country and has invested in and developed 95 hotel properties with over 11,000 rooms in 25 states. MCR’s hotels are operated under 10 brands. The firm has offices in New York City and Dallas. In 2015 MCR was awarded the Marriott Partnership Circle Award, the highest honor Marriott presents to its owner and franchise partners for hospitality excellence. For more information, please visit: www.mcrinvestors.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20171128005796/en/