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Hotel giant MCR buys Swatara Township hotel for $11.4M
MCR, which has offices in New York and Dallas, paid $11.4 million last week to acquire the TownePlace Suites Harrisburg Hershey in Swatara Township, according to Dauphin County property records.
The 107-room hotel is located at 450 Friendship Road in the TecPort Business Center.
The TownePlace Suites gives MCR a foothold in the Hershey and Harrisburg markets. The newly renovated hotel is about 10 minutes from downtown Harrisburg and about 10 miles from the Hershey attractions in Derry Township.
MCR, which has invested in and developed 104 hotels with more than 12,000 rooms in 27 states, owns three hotels in the Lehigh Valley.
Through a partnership fund that includes MCR principals, the company has been aggressively buying Marriott and Hilton select-service and extended-stay hotels. Between August 2017 and this June, the MCR Hospitality Fund LP had acquired 11 hotels, with five others in the pipeline this summer.
The TownePlace was purchased by the fund.
As the economy has grown and commercial construction activity has picked up, new hotel projects have been on the rise. The bulk of the hotels built in Central Pennsylvania over the last two or three years have been Marriott- and Hilton-branded hotels, including several extended-stay properties.
