Global Infrastructure SherpaNoble Investment Group acquires Renaissance Reno Downtown Hotel & Spa
Noble Investment Group has acquired the Renaissance Reno Downtown Hotel & Spa along the Truckee River in downtown Reno. The acquisition, reportedly valued at over $37 million, involved the purchase from Fernando Leal, who had owned the property since 2015 and oversaw its conversion to the Renaissance brand in 2017. This deal positions Noble to capitalize on Reno's rapid growth, driven by significant investments in technology, data infrastructure, and manufacturing from companies like Tesla, Google, Microsoft, Apple, and Switch.
Counterparts (2)
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- Noble Investment Group specializes in upscale and extended-stay hotels.
- Acquisition valued over $37 million.
- Seller Fernando Leal owned the property since 2015, converting it to Renaissance in 2017.
- Reno's growth driven by investments from Tesla, Google, Microsoft, Apple, and Switch.
Source Intelligence
Fernando Leal oversaw the extensive renovation that converted the former Siena Hotel Spa Casino into a non-gaming Marriott property. Noble plans to execute targeted capital enhancements and operational initiatives designed to drive performance. Fernando Leal reportedly acquired the asset in 2015 for $10.4 million. Quotes: "Leal oversaw the extensive renovation that converted the former Siena Hotel Spa Casino into a non-gaming Marriott property.", "The property’s premier riverfront location and strong brand positioning provide a compelling platform to execute targeted capital enhancements and operational initiatives designed to drive performance and capture the region’s continued expansion.”", "Leal reportedly acquired the asset in 2015 for $10.4 million."
"Noble Investment Group has acquired the Renaissance Reno Downtwon Hotel & Spa"
"The hotel was owned by Fernando Leal"
Timeline
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