Noble Investment Group Acquires Residence Inn Midtown Atlanta
Plans to Renovate the 160-room hotel located on Peachtree Road and 17th Street
ATLANTA - August 12, 2011 - Noble Investment Group today announced the acquisition of the Residence Inn Midtown Atlanta 17th Street. The 160-suite Residence Inn by Marriott is located at the epicenter of Atlanta's most dynamic urban setting amongst office, retail, first class dining, and a vibrant music, cultural and performing art scene.
"This off-market acquisition is another strong example of Noble's strategy to invest in prominently located urban select service and extended stay hotels affiliated with premium brands," said Rodney Williams, Noble's managing principal and chief investment officer. "We believe the business and arts leadership of Midtown Atlanta has made it one of the best live, work, learn, shop, and play communities in the United States."
Located along the "Midtown Mile" at the epicenter of Atlanta's commercial, music and arts scene, the Residence Inn Midtown Atlanta 17th Street is on Peachtree Road surrounded by 24 million square feet of office space that currently employ more than 86,000 people. The hotel is directly across the street from the 12.25 acre campus of the Woodruff Arts Center which includes the High Museum of Art, the Alliance Theater and the Atlanta Symphony Orchestra. In addition, Piedmont Hospital, a 481-bed private facility with over 3,000 employees and 26,000+ inpatient admissions annually, is located one mile south on Peachtree Road.
The 160 suite upscale hotel will undergo a renovation of its public areas and guest rooms.
About Noble Investment Group
Founded in 1993, the Noble organization specializes in the lodging and hospitality real estate sector. Through its private equity real estate funds, Noble has invested more than $1.8 billion in hotels and resorts throughout the United States and the organization's current discretionary private equity fund represents $310 million of equity commitments. An award winning operator, Noble currently manages more than 10,000 hotel and resort guest rooms throughout the United States, most of which are affiliated with Marriott, Hyatt, Starwood, Hilton, and InterContinental Hotels Group. In addition, Noble operates convention and conference centers with more than one million square feet of meeting space, day and resort spas, upscale restaurants, and is a franchisee of Starbucks Coffee retail stores. For more information, please visit www.nobleinvestment.com.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
