MCR Acquires The Staybridge Suites Chattanooga Downtown

  • Thursday, December 1, 2022
Staybridge Suites Chattanooga Downtown
Staybridge Suites Chattanooga Downtown

MCR — the country’s 4th-largest hotel owner-operator — has acquired the Staybridge Suites Chattanooga Downtown, a five-story, extended-stay hotel with 124 suites. The hotel was purchased at over a 25 percent discount to MCR’s estimated replacement cost. MCR also has the opportunity to create additional value through (i) converting 13,000 square feet of underutilized ground-floor space into additional guest rooms, retail or meeting space and (ii) monetizing the property’s large, 2.2-acre site offering excess development potential in a prime downtown location. This is the company’s fifth hotel in Tennessee.

Located downtown next to the Chattanooga Convention Center, which hosts over 60 major events annually, the hotel is just a short walk from the Downtown Riverfront Central Business District, as well as the Southside Historic District and its many dining options. Also a short walk away is UTC, which boasts a student population of over 12,000, and Finley Stadium — home to the UT-Chattanooga Mocs and host to various community events, from concerts to professional soccer.

The Staybridge Suites Chattanooga Downtown is located at 1300 Carter Street and features:

124 pet-friendly suites with kitchenettes
Complimentary breakfast buffet
A grab-and-go market offering snacks and beverages
Free, fast Wi-Fi
A heated indoor pool
A fitness center
On-site guest laundry facilities
A 24-hour business center
An onsite boardroom

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