Dive Brief:
- Noble Investment Group acquired 16 WoodSpring Suites hotels, an extended stay brand under Choice Hotels International, the Atlanta-based real estate investment firm announced Wednesday. Noble did not share terms of the deal, and did not immediately respond to a Hotel Dive request for comment.
- Noble said the acquisitions, which occurred through two portfolio transactions, further advance its platform of branded extended stay hotels — “an asset class at the convergence of hospitality, mobility, and America’s accelerating demand for flexible, cost-efficient living solutions.”
- The firm is no stranger to the brand, having previously snapped up a multiproperty portfolio of WoodSpring Suites in 2023. Noble Managing Principal and Chief Investment Officer Ben Brunt said the acquisitions are part of the firm’s bid to scale “a high-margin, service-light platform that delivers brand-backed reliability without the burden of traditional leases.”
Dive Insight:
Noble has a $6 billion portfolio in the U.S., including properties under multiple hotel companies’ extended stay brands. The firm called its extended stay platform “purpose-built for today’s evolving economy.”
Last year, the firm announced a $1 billion final close for its Noble Hospitality Fund V, a real estate fund focused on investments in select-service and extended stay hotels.
In 2023, Noble acquired a 10-hotel portfolio of WoodSpring Suites properties across Florida, Georgia, South Carolina, Tennessee and Kentucky. At the time, the company said it had acquired 48 hotels in the select-service and extended stay spaces over the prior two years.
“It became clear, as we moved through the pandemic, that the [extended stay] segment of the hospitality business, specifically the economy and midscale segments, were the most resilient from an occupancy standpoint, and it has the potential, if properly run, to be the most profitable segment relative to gross operating profit margins,” Brunt told Hotel Dive in 2023.
Noble has also built multiple properties under Marriott International’s StudioRes extended stay brand, which launched in 2023.
Select-service and extended stay hotels “dominated” in terms of hotel transactions closed in the first quarter of 2025, according to JLL. The segment is poised for investment wins this year given its “durable returns in a volatile market,” JLL reported earlier this year.
