Meet new player on the market, Noble Investment Group, which acquires 10-property upscale extended stay portfolio.
Meet new player on the market, Atlanta-based Noble Investment Group. Noble Investment Group acquires 10-property upscale select-service, extended stay portfolio. The deal, including Marriott, Hilton and IHG hotels, furthers Noble’s investment in the high-demand and durable categories, according to a Tuesday news release.
According to the company Facebook page: ” Today, Noble acquired a ten-hotel upscale select-service and extended-stay portfolio — a continuation of our thematic deployment into supply-constrained travel and hospitality, where durable demand and resilient operating economics compound across cycles.
The thesis rests on three structural conditions:
Supply: Construction costs at historic highs and materially constrained financing for new development
Demand: Diversified business, leisure, and extended-stay travel patterns anchor recurring, multi-night occupancy and durable revenue performance
Operating economics: Upscale select-service and extended-stay segments combine lower operating cost intensity, leaner labor models, and more efficient capital reinvestment cycles
Ten newer-vintage Marriott, Hilton, and IHG-branded properties spanning the Pacific Northwest, Midwest, Southeast, and Northeast. Weighted-average age under six years. Acquired at a basis meaningfully below replacement cost.
"This is precisely the kind of opportunity our platform is built to source, underwrite, and execute." — Dustin Fisher, Noble principal & head of acquisitions
Grateful for our team — and for our partners whose continued trust makes this work possible.” they said.
Read Original Press release here, and Hoteldive.com review here.
images are curtesy of Noble Investment.
