MCR

Tyler Morse, the firm's founder, serves as Chairman and CEO and is the principal decision-maker on acquisitions and capital allocation. Morse previously held investment roles at DLJ Real Estate Capital Partners and Apollo Real Estate Advisors before starting MCR in 2006. The firm operates with a centralized investment committee structure under his direction.

MCR sources deals through long-standing relationships with hotel brokers, brand development teams at Marriott, Hilton, and IHG, and direct outreach to independent owners. The firm targets properties that are underperforming relative to their competitive set, often where an owner lacks capital for required brand-mandated renovations. Morse has described the firm's sourcing edge as speed of execution and certainty of close.

MCR operates as a private owner-operator rather than a traditional private equity fund. The firm does not raise closed-end funds with fixed investment periods and mandatory liquidation timelines. Instead, it acquires and holds assets on its own balance sheet, reinvesting cash flow into renovations and new acquisitions on an indefinite holding model more akin to a closely held operating company.

In 2021, MCR merged a portion of its hotel portfolio with American Hotel Income Properties REIT, a publicly traded Canadian entity, creating a combined platform with approximately 13,000 rooms. The transaction gave MCR a significant stake in a public vehicle while retaining its private owner-operator model for the rest of the portfolio. The REIT trades on the Toronto Stock Exchange under the ticker HOT-U.

MCR focuses on premium-branded select-service and extended-stay hotels, predominantly flagged under Marriott (Residence Inn, Courtyard, Fairfield Inn), Hilton (Homewood Suites, Hampton Inn, Home2 Suites), and IHG (Staybridge Suites, Holiday Inn Express) brands. The firm has also executed unique independent projects, including the adaptive reuse of the TWA Flight Center at JFK Airport into the TWA Hotel.

MCR's primary model is acquiring and renovating existing hotels. The firm does, however, undertake selective ground-up development where a branded flag and market opportunity align. A recent example is the Residence Inn by Marriott in Princeton, New Jersey, which opened in March 2025 as a new-build property adjacent to Princeton University.

MCR owns hotels in 37 U.S. states, with concentration in secondary and tertiary markets that exhibit stable demand drivers such as universities, medical centers, and corporate office parks. The firm avoids gateway urban markets for select-service acquisitions, preferring locations with lower supply growth and less exposure to unionized labor and high property taxes.