Soho House Saves Go-Private Deal With Last-Minute Funding
Better late than never: Soho House has secured $200 million in alternative financing after an earlier effort failed. It aims to close its go-private deal by January 31.
Articles tagged “mcr”
MCR Can’t Fund $200 Million Commitment to Take Soho House Private
The $2.7 billion deal to take members-only club operator Soho House private is in jeopardy after a key investor said it can't come up with the money.
Soho House to Go Private in $2.7 Billion Deal Led by MCR Hotels
The members-only club operator Soho House has agreed to an equity buyout by Tyler Morse and MCR Hotels, the third-largest owner of U.S. hotels. Billionaire Ron Burkle retains control.
MCR Hotels to Lead Deal to Take Soho House Private: Report
Soho House has been unprofitable for most years of operation since its founding in London in 1995. But it just posted its third straight quarterly profit.
TPG Completes Acquisition of Sabre Hospitality Solutions, Gets Investment From Hotel Operator
Will Hospitality Solutions be able to find momentum now that it's independent of Sabre? Increased focus and a new investor certainly won't hurt.
For Daily Lodging Report Subscribers
MCR Looks to Miami Hotels
MCR plans to build two eight-story hotels with a total of 400 rooms and additional parking facilities next to the Hilton Miami Airport Blue Lagoon.
For Daily Lodging Report Subscribers
MCR Refinances Its Hotel Portfolio
MCR has refinanced a 16-hotel portfolio for $333 million, generating $51 million of net proceeds. In less than three years, MCR doubled the portfolio’s new operating income, increasing it from $15 million at acquisition to $36 million.
MCR-Owned Stayntouch Raises $48 Million
Stayntouch historically has been focused on independent hotels, but now it wants to take on Oracle Hospitality and sign some more big players.