Noble Investment Group Acquires 10-Property Upscale Select-Service and Extended Stay Hotel Portfolio
Noble Investment Group has acquired a 10-property portfolio of upscale select-service and extended stay hotels from Marriott International, Hilton, and IHG Hotels & Resorts. The acquisition is expected to enhance Noble's capital deployment in the extended stay and select-service sectors, which are noted for constrained supply and durable margins. The properties were acquired at a discount to replacement cost, though financial terms were not disclosed.
Topics: acquisition hotel industry portfolio investment real estate