**Editor’s note: updated at 4:02 p.m. on March 11, 2015 to add comments from Nick Katsikis, MCR regional director of operations.

MCR Development LLC announced March 9 the Courtyard by Marriot Troy and Hampton Inn by Hilton is now part of a “Portfolio” valued at approximately $206 million.

MCR’s hotels are operated under 10 brands, and the firm is headquartered in New York City and Dallas.

The Portfolio represents 1,787 rooms across 11 states in growing cities including Charlotte, Savannah, Cincinnati, Tulsa and San Antonio. It includes multiple brands including Marriot’s Courtyard and TownePlace Suites and Hilton’s Hampton Inn & Suites, Hilton Garden Inn and Homewood Suites. All hotels were acquired with fee simple title.

“We like the small town markets,” said Nick Katsikis, MCR regional director of operations. “We can give back to the community through great hotels that we can enhance for the community.”

Katsikis said that MCR is aware of the great relationship that the hotels in Troy have with Troy University and major companies such as Lockheed Martin and Sikorsky Support Services, Inc. MCR tries to maintain strong relationships with those types of industries nationwide.

“As we’ve grown, it just helps to enhance our relationship with those top clients,” Katsikis said.

Each hotel included in the Portfolio is located near a respective market’s core business attractions and airports, which will further enhance the geographic diversity of MCR’s Portfolio and expand its presence in high-growth markets with strong underlying fundamentals.

“This acquisition significantly enhances the size and scale of our premium branded select service hotel portfolio in the United States,” said Tyler Morse, chief executive office and managing partner of MCR Development. “Adding this collection of high-quality assets further strengthens our relationship with Marriot and Hilton as our portfolio will now include 50 Marriot and 31 Hilton hotels.

“This investment meets our strict underwriting criteria of selectively acquiring, high-yielding premium-branded hotels in high-growth business and leisure markets with multiple demand generators. Given the properties’ attractive locations and unencumbered management agreements, the hotels are well positioned to deliver strong returns.”

MCR will own and manage the Portfolio, which will continue to operate under its respective Marriot or Hilton brand affiliations, with long-term franchise agreements in place.

This acquisition brings MCR’s portfolio up to 88 hotels with approximately 10,000 rooms across 23 states.