Noble Investment Group has announced the acquisition of 10 WoodSpring Suites hotels in the southeastern United States. The company aims to improve market positioning and performance through physical enhancements across the portfolio, Noble said in a statement.
The portfolio is situated in growth markets across Florida, Georgia, South Carolina, Tennessee, and Kentucky, known for positive net migration, job growth, and wage increases, according to the statement
"Noble has acquired 48 hotels over the past two years," said Ben Brunt, Noble's managing principal and chief investment officer. "We continue to add substantial scale to our extended-stay travel and hospitality platform."
Extended-stay, apartment-like offerings are in high demand by relocations, traveling health professionals, government workers, and infrastructure businesses, Noble said.
In June, Noble appointed John Bianco as the new senior project director of development, responsible for executing Noble's midscale extended-stay hotel strategies.
