Noble Investment Group has acquired a trio of newly built properties, while a joint venture of Dreamscape Companies and Meritage Group LP has purchased a recently constructed hotel in Nashville.
Noble acquires portfolio of Marriott, Hilton and Hyatt Hotels
Noble Investment Group has acquired the Residence Inn by Marriott Charlottesville Downtown, Hyatt House Tallahassee Capitol | University and the Hampton Inn & Suites Tallahassee Capitol | University. These newly built hotels are in strong growth markets, which provide a highly resilient and diverse mix of business and leisure demand generators, according to the company.
The Residence Inn by Marriott Charlottesville Downtown is centrally located along Main St. in Charlottesville, VA. The city is home to the 27,000-student University of Virginia (UVA), the 631-bed UVA Medical Center and landmarks such as Thomas Jefferson’s home at Monticello and the Monticello Wine Trail. The new $120-million, 14-acre UVA School of Data Science broke ground in October and will add to the growing presence of university demand.
The Hyatt House Tallahassee Capitol | University and Hampton Inn & Suites Tallahassee Capitol | University hotels are centrally located in downtown Tallahassee, FL. As the state capital, the city serves as the epicenter of Florida’s state government. It is home to Florida State University (FSU) and Florida A&M University. The area is also home to FSU’s 79,560-seat Doak Campbell Stadium and is projected for solid growth with the addition of the $88-million FSU College of Business Legacy Hall and the late-2022 delivery of the $200-million, 630,000-sq.-ft. Amazon Robotics Fulfillment Center.
Dreamscape Companies-Meritage Group JV acquire Nashville Holiday Inn & Suites Downtown
A joint venture between affiliates of Dreamscape Companies and Meritage Group LP has completed the acquisition of the Nashville Holiday Inn & Suites Downtown, a newly constructed hotel situated in the heart of Downtown Nashville in the city’s SoBro (South of Broadway) neighborhood.
This purchase marks Dreamscape’s second hospitality transaction in the city this year, having acquired The Sheraton Grand Nashville Downtown in June. The purchase of this 230-room hotel underscores Dreamscape’s commitment to expanding its presence in the Nashville market, as well as identifying prime growth opportunities in key regional areas across the country, according to the company.
Aimbridge Hospitality will oversee and manage operations at the property.
The Nashville Holiday Inn & Suites Downtown has been outfitted with 230 rooms and 8,700 sq. ft. of meeting space. The property, which opened its doors just two years ago, also includes the street-front cocktail bar and restaurant 4th and Peabody—which is preparing to undergo a renovation—as well as an on-site parking garage. In addition to reimagining the hotel’s dining concept, Dreamscape is also planning to integrate additional retail concepts within the property’s lobby.