US: Alternative asset manager Noble Investment Group has acquired 16 WoodSpring Suites through two portfolio transactions.
The locations of the 16 extended stay hotels or financial terms of the deals were not disclosed.Â
Noble said that the acquisitions support its focus on “branded long-term accommodations”.
Ben Brunt, managing principal and chief investment officer at Noble, said: “As affordability challenges and workforce mobility reshape how people live, work, and stay, we’re scaling a high-margin, service-light platform that delivers brand-backed reliability without the burden of traditional leases.”
Noble has investment more than $6 billion across the United States.
In 2021, the firm raised $360 million for its Hospitality Fund V to invest in select service and extended stay hotels.Â
Two years later, Noble acquired a 10-strong portfolio of WoodSpring Suites properties located across Florida, Georgia, South Carolina, Tennessee and Kentucky. At the time, the firm reported it had acquired 48 hotels since Fund V launched.Â
In 2024, Noble revealed a $1 billion final close for the fund.Â
Highlights:
• Noble has acquired 16 WoodSpring Suites properties through two portfolio transactions as part of its extended stay growth strategy.
• The acquisitions support Noble’s focus on branded long-term accommodations.
• The firm’s $1 billion final close for Hospitality Fund V in 2024 underscores its capital commitment to the sector.
• Noble has invested more than $6 billion across the US.
