Noble has acquired a 10-hotel upscale select-service and upscale extended-stay portfolio.
The portfolio comprises 10 Marriott, Hilton and IHG-branded properties spanning the Pacific Northwest, Midwest, Southeast and Northeast. The assets are newer-vintage, with an average age of less than six years, and deliver strong in-place current income, premier global loyalty and distribution platforms and a basis meaningfully below replacement cost.
Noble sees an alignment of conditions in today’s travel and hospitality environment: construction costs at historic highs and materially constrained financing for new development; diversified business, leisure and extended-stay travel patterns anchoring recurring, multi-night occupancy and durable revenue performance; and lower operating cost intensity, leaner labor models and more efficient capital reinvestment cycles in the upscale select-service and extended-stay segments, supporting durable cash flow and margin resilience acros
