Pandemic First Mover MCR Still Going Strong on Hotel and Tech Investments
Photo Caption: Tyler Morse is the chairman and CEO of MCR. Russell Harper
Skift Take
MCR is using the expertise from its growing hotel enterprise to inform the development of its own growing hotel tech companies. What better strategy to solve some of the industry's biggest problems and make money doing it?
MCR invested heavily in hotels and hotel tech during the pandemic, and the company is not stopping yet.
“When everyone else was frozen in panic, we made a lot of terrific investments in hotels and software companies, hotel-related investments,” said Tyler Morse, chairman and CEO of MCR, during an onstage interview by Skift CEO Rafat Ali at the Skift Future of Lodging Forum on Wednesday.
The company bought 70 hotels during the pandemic and is closing on four next week, with another 12 in the pipeline, Morse said.
The investment during the pandemic made MCR the third-largest hotel owner in the U.S. The company now owns 150 hotels — including properties like the TWA Hotel, the High L
