MCR Acquires Two Properties in Northwest Indianapolis

USA, New York City, New York. May 28, 2019

Revved up about Indy! MCR, the sixth-largest hotel owner-operator in the United States, has acquired two hotels in the Racing Capital of the World, the 110-room Hampton Inn Indianapolis Northwest - Park 100 and the 78-room Residence Inn by Marriott Indianapolis Northwest.

Both properties are less than 10 miles from the legendary Indianapolis Motor Speedway, home of the thrilling Indy 500 car race. Every Memorial Day weekend, the 33 greatest drivers in the sport go full throttle for 200 laps around a 2.5-mile oval circuit in a quest for glory — and the traditional bottle of cold milk that goes to the winner. The race is the world's largest single-day sporting event, attracting up to 300,000 fans annually.

The 103rd Indy 500 will take place on May 26 — and the excitement is building, says Morgan Snyder of the Visit Indy tourism bureau. "The energy is palpable for the most iconic race on the planet," she says. "It's a true bucket list experience, whether you're a racing connoisseur or not."

There's plenty to do before (and after) the checkered flag drops. The Indianapolis Motor Speedway Museum features a collection of cars that have won the race over the years — including a 1911 Marman Wasp! — and other artifacts sure to appeal to gearheads of all ages. A new Mario Andretti exhibit commemorates the 50th anniversary of the famed driver's sole Indy 500 victory back in 1969.

If you've got little ones itching to take the wheel, zip over to the pedal car track at the Children's Museum of Indianapolis — the largest kids' museum in the world — and race as a family!

When it's time to hit the brakes, both the Hampton Inn and Residence Inn make for the perfect pit stop. The hotels each offer complimentary hot breakfasts (and cold milk) so you can fuel up for your day. Put the pedal to the, er, treadmill at their 24-hour fitness centers or just head to the pool at either property for a — you guessed it — victory lap.

"There's no better place for racing fans than our two new properties in Indianapolis," says Tyler Morse, CEO and Managing Partner of MCR and MORSE Development. "No matter who wins the 500, every guest gets celebratory milk with their free breakfast."

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Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.