Market Overview

MCR Acquires Hilton Garden Inn at Rhode Island's Outstanding International Airport

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Small state, big doings: Nation's seventh-largest hotel owner-operator
puts down roots at one of the fastest-growing airports in America

MCR,
the seventh-largest hotel owner-operator in the United States, has
acquired the 160-room Hilton
Garden Inn Providence Airport/Warwick
at Rhode Island's T.F. Green
International Airport (PVD), which serves 4 million passengers annually.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180720005017/en/

Hilton Garden Inn Providence Airport/Warwick. (Photo: Business Wire)

Hilton Garden Inn Providence Airport/Warwick. (Photo: Business Wire)

Since 2017, T.F. Green International Airport has added six new carriers,
many overseas routes and nearly 8 percent more passengers. Ranked the
sixth-best U.S. airport in 2018 by Money magazine, PVD was
praised for its on-time arrival rate of 82 percent. The airport's growth
is nonstop: In 2021, JetBlue founder David Neeleman is expected to
launch his start-up airline, Moxy, at T.F. Green.

The Hilton Garden Inn Providence Airport/Warwick is a 10-minute walk to
T.F. Green's terminal, which offers domestic service from Allegiant,
American, Delta, Frontier, JetBlue, Southwest and United. Norwegian
Airlines flies to Ireland, Northern Ireland and Scotland. Azores
Airlines provides seasonal service to Ponta Delgada and beyond.

"Rhode Island may be the smallest state, but it has one of the best
airports," says Tyler Morse, CEO and Managing Partner of MCR. "Twenty
five percent of the U.S. population lives within 500 miles of PVD — and
when they're passing through Providence, we welcome them all at The
Hilton Garden Inn Providence Airport/Warwick."

For those looking to get away from it all a little closer to home, the
hotel is connected to the Iron Works Tavern, a community favorite housed
in the historic 1867 R.I. Malleable Iron Works Factory building. There,
locals and business travelers visiting the nearby offices of MetLife,
UPS and Swarovski North America can raise a glass of Rise pale ale from
the award-winning local Whalers Brewing Company.

The Hilton
Garden Inn Providence Airport/Warwick
, which opened in 2005, is
located at 1 Thurber Street and features:

  • 160 spacious guestrooms with oversized work desks and ergonomic chairs
  • A connection to the popular Iron Works Tavern
  • Free fast Wi-Fi
  • A 24-hour business center with printing service
  • A 24-hour convenience store
  • A fully-equipped fitness center with an indoor pool
  • A complimentary hot breakfast buffet
  • Laundry and valet service
  • Access to the InterLink transportation hub, which connects commuter
    trains, a commuter parking garage, rental car services and a skywalk
    to T.F. Green's terminal
  • A free airport shuttle

Reserve rooms by phone at (401) 734-9600 or online at www.hiltongardeninn.com.

About MCR

MCR is the seventh-largest hotel owner-operator in the country and has
invested in and developed 104 hotel properties with more than 12,000
rooms in 27 states. MCR's hotels are operated under 11 brands. The firm
has offices in New York City and Dallas. MCR is a recipient of the
Marriott Partnership Circle Award, the highest honor Marriott presents
to its owner and franchise partners, as well as the Hilton 2017 Top
Performer Award. For more information, please visit www.mcrinvestors.com.

About MCR Hospitality Fund LP

The MCR Hospitality Fund LP targets investments in institutional-quality
Marriott and Hilton select service and extended stay hotels throughout
the country. The fund provides MCR with approximately $1 billion in
buying power.

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