Alternative Investment Awards 2016

awards alternative investment wealth & finance2016 68 Development Company: MCR Development Name: Russell Shattan Email: [email protected] Web Address: Address: 152 West 57th Street 46th Floor, New York, New York 10019 AI16067 MCR MCR Development is a vertically-integrated investor and operator of extended-stay and select-ser- vice hotels with a successful track record of buying, building, managing and selling Marriott and Hilton branded properties as well as developing historic and iconic independent hotels. We invited Russell Shattan, MCR’s Senior Vice President – Acquisitions & Development, to tell us more. In a relatively short period of time, we have successfully established MCR Development as one of the nation’s leading owners, operators and developers of extended-stay and select-service hotels, having invested with many institutional capital partners in 90 hotels across the country. This achievement is a testament to the success of our business model, entrepreneurial culture, strategic focus and the caliber and dedication of our entire team. The fundamental component of our investment strategy is owning Marriott and Hilton branded, select-service and extended-stay hotels in secondary markets throughout the United States. The market for these hotels is very fragmented, with over 1,000 “mom and pop” groups owning two-to-20 assets, resulting in great opportunities for institutional investors. Our focus on the select-service category stems from the fact that over the past 30 years, occupancy, ADR, and RevPAR growth in this seg- ment have outperformed the upper upscale segment; select-service has also offered better margins, less volatility and more resilient demand. Furthermore, we employ modest leverage, cost management and geo- graphic diversity to mitigate risk associated with individual assets and market cycles. We are in a great place right now and believe we have a very exciting future ahead of us. Not only have we grown in scale, but we have also earned a reputation as a leading firm in the hotel industry. Because of this, we continue to get approached by various industry partners about opportunities for us to invest in premium branded assets. The universe of 6,200 Marriott and Hilton U.S. hotels will continue to provide attrac- tive opportunities. Looking ahead, in addition to acquiring new hotels, we will continue to re-invest in our existing hotels through full-scale renovations, and savvy asset management initiatives to unlock value for existing investors and our guests. We remain steadfast in our commitment to prudently grow our portfolio and provide our investors with safe, reliable and attractive risk-adjusted returns. Premier Hotel Management Company of the Year – USA