New York company buys 2 Volusia County hotels. Here's how much they paid.

Clayton Park, The Daytona Beach News-Journal
Updated ·3 min read

The nation's third-largest hotel operator has acquired two Volusia County hotels: the Courtyard by Marriott in downtown DeLand and the Hampton Inn Daytona Shores Oceanfront in Daytona Beach Shores.

Who bought them?

The new owner is New York-based MCR Development, which also has corporate offices in Dallas, Chicago, and Richmond, Virginia. It announced its acquisition of the two Volusia County hotels along with the 169-room Hyatt Place Orlando/Buena Vista last Tuesday.

The seller of all three properties was Orlando-based Avista Properties.

The Courtyard by Marriott hotel in downtown DeLand, pictured on Thursday, June 7, 2023, is one of three hotels that Orlando-based Avista Properties recently sold to New York-based MCR Development, the nation's third-largest hotel operator. The other hotels involved in the sale included the Hampton Inn by Hilton in Daytona Beach Shores and Hyatt Place Orlando/Buena Vista in Orlando.

MCR manages a $5 billion portfolio of 148 "premium-branded hotels" in 37 states, including 10 other hotels in Florida, according to its website.

Its Sunshine State properties include the DoubleTree Inn and Home2 Suites hotels in Tallahassee, a Residence Inn by Marriott in Pompano Beach, the Inn of Naples Tapestry Collection by Hilton hotel in Naples, the Godfrey Hotel & Cabanas in Tampa, Hyatt Place and Hilton hotels at Miami International Airport, a Courtyard by Marriott in Jacksonville, a Hampton Inn in Lake Mary and the Hilton Garden Inn Orlando at SeaWorld.

The Hampton Inn at 3135 S. Atlantic in Daytona Beach Shores and the Courtyard by Marriott at 308 N. Woodland Blvd. in downtown DeLand are MCR's first hotels in Volusia County.

The Hampton Inn by Hilton Daytona Shores Oceanfront in Daytona Beach Shores is one of three hotels that Orlando-based Avista Properties recently sold to New York-based MCR Development. The other two are the Courtyard by Marriott in downtown DeLand and Hyatt Place Orlando/Buena Vista in Orlando.
The Hampton Inn by Hilton Daytona Shores Oceanfront in Daytona Beach Shores is one of three hotels that Orlando-based Avista Properties recently sold to New York-based MCR Development. The other two are the Courtyard by Marriott in downtown DeLand and Hyatt Place Orlando/Buena Vista in Orlando.

How much did they pay?

The buyer didn't announce the sales price, but according to Volusia County Property Appraiser Larry Bartlett, MCR paid $18 million for the Hampton Inn Daytona Shores Oceanfront and $13.6 million for the Courtyard by Marriott DeLand. The deed transactions were both dated May 31.

The Hampton Inn Daytona Shores Oceanfront opened in 1999. The Courtyard by Marriott DeLand opened in 2018.

How are locals reacting?

Christine Forrest, sales manager for the Courtyard by Marriott in downtown DeLand, is pictured in front of the hotel's lobby where Stetson University football helmets are on display. (June 7, 2023.)
Christine Forrest, sales manager for the Courtyard by Marriott in downtown DeLand, is pictured in front of the hotel's lobby where Stetson University football helmets are on display. (June 7, 2023.)

Christine Forrest, sales manager at the Courtyard by Marriott DeLand, said the change in owners is "definitely something exciting. They (representatives of MCR) came (the first week of June) to train us."

The Courtyard by Marriott DeLand employs roughly two dozen people, led by General Manager Daniele Dow. The 104-room hotel is the second-largest in West Volusia behind the 114-room Holiday Inn Express & Suites in Orange City.

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Forrest said revenue per available room at her hotel so far this year is up 8% compared with last year. "Being in downtown DeLand, we have an advantage," she said. "Stetson (University) is right across the street so parents like to stay here, as do visiting sports teams. We also get a lot of tourists and thanks to Skydive DeLand (at nearby DeLand Municipal Airport) we've had skydiving enthusiasts come from other countries."

Officials at The Hampton Inn Daytona Shores Oceanfront did not respond to requests for comment. The 111-room hotel is led by longtime General Manager Sandy Ellis.

Bob Davis, CEO of the Lodging & Hospitality Association of Volusia County, said both hotels are well run. "I drive by the Hampton Inn every day and it always looks packed," he said. "The Courtyard Inn in DeLand is very, very nice, too."

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This article originally appeared on The Daytona Beach News-Journal: SOLD! NY firm buys 2 Volusia County hotels. Here's what they bought.