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Noble acquires 10 WoodSpring Suites hotels

It aims to enhance performance through portfolio-wide improvements

Noble acquires 10 WoodSpring Suites hotels

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.

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U.S. Hotel Construction Drops to 40-Quarter Low: CoStar

CoStar: U.S. hotel construction hits 40-quarter low

Summary:

  • U.S. hotel rooms under construction fell year over year for the ninth month, CoStar reported.
  • About 137,956 rooms were under construction in September, down 12.3 percent from 2024.
  • In September, 12,746 midscale and 4,559 economy rooms were under construction.

U.S. HOTEL ROOMS under construction fell year over year for the ninth consecutive month in September, reaching the lowest level in 40 quarters, according to CoStar. Still, more rooms are under construction now than after the Great Recession.

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