Noble Investment Group has acquired 10 WoodSpring Suites hotels located throughout the Southeastern U.S. The firm plans to make physical improvements across the portfolio to enhance market positioning and accelerate performance.
The portfolio is located in markets throughout Florida, Georgia, South Carolina, Tennessee and Kentucky, characterized by positive net migration, job growth and wage growth. The extended-stay, apartment-like offerings are highly desirable for relocations, traveling health professionals, government workers and infrastructure project-related businesses, according to the company.
“Noble has acquired 48 hotels over the past two years, and we continue to add substantial scale to our extended-stay travel and hospitality platform,” said Ben Brunt, managing principal/chief investment officer, Noble.
