Noble acquires 10-hotel upscale select-service and upscale extended-stay portfolio from Marriott, Hilton, and IHG

Noble completed the acquisition of a 10-hotel portfolio featuring upscale select-service and upscale extended-stay properties under Marriott, Hilton, and IHG brands. The portfolio spans four U.S. regions—Pacific Northwest, Midwest, Southeast, and Northeast—with all assets being newer-vintage properties averaging less than six years old. Dustin Fisher, principal and head of acquisitions at Noble, highlighted the strategic fit of the deal, citing high construction costs and constrained financing for new developments as key market conditions. The transaction includes properties with strong in-place income, global loyalty programs, and a cost basis below replacement value, ensuring durable cash flow and margin resilience. Noble emphasized its hands-on operating capability to compound value through disciplined asset management across the diversified portfolio.

Counterparts (4)

Seller

I

IHG

company · 1 deals

Marriott International

company · 2 deals

Marriott International is a global hospitality company operating and franchising a broad portfolio of hotels and lodging facilities across numerous brands worldwide. It focuses on providing diverse travel experiences, from luxury resorts to extended-stay accommodations, supported by its Marriott Bonvoy loyalty program and extensive global presence.

Hilton

company · 1 deals

McLean, Virginia-based global hospitality company operating, franchising, and owning a portfolio of over 7,500 hotels and resorts across 19 brands in 126 countries and territories. Focuses on luxury, full-service, and focused-service segments.

Buyer

Noble

company · 1 deals