MCR Development Completes another Hotel Renovation in Greater Baltimore
- May 05, 2015
MCR Development, one of the largest hotel owner-operators in the country, has completed the renovation of a Greater Baltimore area hotel in April. The TownePlace Suites by Marriott Arundel Mills BWI Airport is now ready to receive guests.
The hotel has 109 suites, all with fully equipped kitchens, flat screen TVs and high speed internet. It is located at 7021 Arundel Mills Circle in Hanover, close to many of the area’s major employers and just four miles from Baltimore/Washington International Thurgood Marshall Airport.
The TownePlace Suites by Marriott Arundel Mills BWI Airport represents the eighth hotel renovation project completed by MCR in the Baltimore area within the last 10months. It called for updates to the hotel’s lobby, the installation of new light fixtures and the addition of updated signage on the property’s exterior. The owner also added contemporary artwork throughout the lobby and common areas. MCR did not reveal how much it spent on the project.
According to Marcus & Millichap, the hospitality market in the Mid-Atlantic region, an area consisting of Delaware, the District of Columbia, Maryland, Virginia and West Virginia, recorded respectable gains during 2014. This trend is expected to continue into 2015 and bring even higher room demand and revenue. Marcus & Millichap also reports that revenue per available room will climb in the Mid-Atlantic area this year to $76.84, with regional occupancy reaching 63.6 percent, after a rise of 90 basis points.
Charts courtesy of Marcus & Millichap.