Noble Acquires 11 Marriott & Hilton Branded Hotels From McKibbon
December 10, 2014 4:40am
The Southeastern U.S. Hotels Total 1,306 Rooms
Atlanta, GA (December 10, 2014) - Noble Investment Group ("Noble") announced that it has closed on the acquisition of ten Marriott and one Hilton premium branded select service and extended stay hotels from McKibbon Hotel Group, Inc. ("McKibbon"). McKibbon, a nationally renowned developer and operator, will continue managing the portfolio which totals 1,306 rooms in five states throughout the southeast.
Noble invests in markets which have historically stable demand most often generated by major universities, healthcare centers and a diverse corporate presence. The eleven hotels were selected based on favorable market conditions, strength of brands and overall quality of the assets. In addition, Noble will invest renovation capital to upgrade and enhance the assets in order to optimize revenue market share and maximize net operating income.
"McKibbon is widely regarded as one of the foremost developers and operators of select service and extended stay hotels in our industry," said Mit Shah, Noble's chief executive officer and senior managing principal. "For more than 20 years, our teams have enjoyed a strong mutual respect for one another and we are excited about acquiring these eleven assets and to be embarking on this valuable relationship together."
"We are extremely pleased to begin this important new partnership with our good friends at Noble," commented John McKibbon, chairman of McKibbon. "This transaction affords us the opportunity to redeploy capital in order to advance our growth strategy of developing lifestyle hotels in urban settings."
Tags: noble investment group,
mckibbon hotel group,
Contact: Scarlett Ainsworth
Contact: Lauren Bowles
Moxy Making U.S. Debut with Opening of Moxy New Orleans by Noble Investment Group and Moxy Tempe by Twenty Four Seven Hotels
American Realty Capital Hospitality Trust Acquires Two Hotels from Noble Investment Group for $48.6M
Noble and IHG to Develop Dual-Branded Even® Hotels and Staybridge Suites® Hotel in Downtown Seattle
Noble Investment Group Completes Renovation of NC's Residence Inn by Marriott Charlotte SouthPark
ARC Hospitality Trust to Acquire Portfolio of 13 Hotels from Noble Investment Group for $300 Million
Noble Investment Group Acquires SpringHill Suites by Marriott Houston Northwest
McKibbon Hotel Group Opens 116-room Homewood Suites in Downtown Little Rock, Arkansas
McKibbon Hotel Group to Develop Vandre Nouveau Hotel, a Tribute Portfolio Hotel, in Asheville, NC
Noble Investment Group Acquires the 225-room Renaissance by Marriott Fort Lauderdale in Florida
Noble Investment Group Breaks Ground on StateView Hotel at NC State in Raleigh, NC
Noble Investment Group Opens 150 room Hyatt Place Boulder | Pearl Street in Colorado
Noble Investment Group Completes Renovation of 175-key Residence Inn by Marriott Cleveland Downtown
Noble Investment Group Completes Renovation of Residence Inn by Marriott Cleveland | Beachwood in OH
McKibbon Hotel Group Hires 3 New General Managers - Carrie Duncan, Greg Fernholz & Jonathan Brashier
Noble Investment Group And Hyatt Hotels Open Hyatt Place in Downtown Columbia, SC
Noble Investment Group & Marriott Open AC Hotel by Marriott Kansas City Westport, Kansas City, MO
Residence Inn by Marriott Cleveland Independence Completes Renovation
Noble Investment Group Acquires the 169-key Courtyard by Marriott Chapel Hill in North Carolina
Noble Investment Group & Simon JV Breaks Ground on AC Hotel Buckhead in Atlanta; Open Early in 2016
Noble Investment Group & Hyatt Open the 129-room Hyatt Place Phoenix/Chandler-Fashion Center in AZ
Please login or register to post a comment.