Noble acquires Homewood Suites in Salt Lake City

The city’s rapid growth cited as motivation for investment

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Noble Investment Group, led by Mit Shah as CEO, has acquired the 137-room Homewood Suites by Hilton Salt Lake City | Downtown in Salt Lake City, Utah.

NOBLE INVESTMENT GROUP has acquired the Homewood Suites by Hilton Salt Lake City | Downtown in Salt Lake City, Utah. The company, led by Mit Shah as CEO, said the city represents a fast-growing market.

The 137-room hotel is in Salt Lake City’s central business and entertainment district, according to Noble. The area contains more than 15 million square feet of office space and several corporate headquarters, including Zions Bancorporation, Questar Corporation, and Goldman Sachs. Also nearby are the Salt Palace Convention Center, Vivint Arena, Gallivan Center, Temple Square and the Utah State Capitol.

More than 26 million passengers annually pass through the Salt Lake City International Airport, which is 4 miles west of downtown.

“Salt Lake City has seen some of the highest in-migration trends leading up to and continuing through the global health crisis,” Noble said in its statement. “The city boasts more than ten ski resorts within an hour’s drive, as well as more than a dozen national parks and monuments. With its world-class outdoor lifestyle, Salt Lake City is one of the most dynamic leisure and corporate travel markets in the U.S.”

An Expedia survey released in October listed Salt Lake City as a top travel destination for the upcoming Thanksgiving and Christmas holidays. In November 2020 it was one of group hospitality analytics firm Knowland’s top growth markets for meetings and group travel.

Hotel amenities include a pool and patio area, digital key access, a fitness center and 2,477 square feet of meeting space.

In October, Noble opened the Courtyard by Marriott Atlanta Midtown and Element by Westin Atlanta Midtown in Atlanta. It is the first dual-brand hotel to combine those two brands.