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Dive Brief:
New York-based hotel owner-operator MCR acquired Hyatt Regency O’Hare Chicago, the company announced Wednesday. Hyatt Hotels and MCR both declined to share the terms of the deal. 
The hotel, which underwent a $13 million renovation of its guest rooms in 2020, is MCR’s first Hyatt Regency, and its fifth property in Illinois. 
The sale is part of Hyatt’s ongoing strategy to sell owned properties and “reinvest the proceeds in asset-light platforms that accelerate growth,” a Hyatt spokesperson told Hotel Dive. Earlier this year, the hotel company sold Hyatt Regency Orlando for $1 billion.