The 195-room Hilton St. Louis Downtown at the Arch, at 400 Olive Street, has been sold by New York hotel operator MCR Development LLC.
Terms of the deal, or the buyer in the transaction, were not immediately disclosed. MCR had acquired the property in 2016 as part of a larger portfolio sale that totaled $119 million.
MCR in a statement said the sale generated a 44 percent internal rate of return on its initial investment. The property, according to records with the city of St. Louis, has an appraised value of nearly $7 million.
The Hilton hotel was the only Missouri hotel MCR owned. It does own three Hilton-branded properties in Champaign, Ill.
The St. Louis hotel was built in 1888 as the Merchant Laclede National Bank.