- Noble acquired a 10-property portfolio of select-service and extended-stay hotels
- It reflects the company's continued deployment of capital into travel and hospitality.
- The assets average less than six years old and generate current income.
NOBLE INVESTMENT GROUP acquired a 10-property portfolio of select-service and extended-stay hotels. The portfolio includes Marriott International, Hilton Worldwide Holdings and IHG Hotels & Resorts' properties across the Pacific Northwest, Midwest, Southeast and Northeast.
The assets have an average age of less than six years and generate current income, provide access to global loyalty and distribution platforms, and were acquired below replacement cost, Noble said in a statement. They are exposed to demand drivers including healthcare, higher education, government, logistics and corporate travel.
“This is precisely the kind of opportunity our platform is built to source, underwrite and execute,” said Dustin Fisher, Noble principal and head of acquisitions. “Ten newer-vintage, well-located assets with premium brands, geographic diversification and an attractive basis, paired with a hands-on operating capability that allows us to compound value through disciplined asset management.”
Atlanta-based Noble is led by CEO Mit Shah.
The transaction reflects Noble’s continued deployment of institutional capital into travel and hospitality segments with constrained supply, diversified demand drivers and stable margins, the statement said.
In March, Noble acquired the 214-key Renaissance Reno Downtown Hotel & Spa in Reno, Nevada.
