Friday, February 10, 2012

Noble Investment Group Acquires Two Hotels to be Redeveloped as the Hyatt Atlanta Midtown and Memphis Marriott East


ATLANTA, GA /PRNewswire/ -- Noble Investment Group ("Noble"), a leading lodging and hospitality investment organization, announced it completed more than $350 million in real estate investments over the past twelve months, increasing Noble's owned asset portfolio by 14 hotels.

 Most recently, Noble has acquired the Hotel Midtown (middle left photo) in Atlanta and the Holiday Inn Memphis East (bottom right photo). 


Currently, these transient oriented full service hotels are each undergoing a comprehensive repositioning and will be rebranded as the Hyatt Atlanta Midtown and the Memphis Marriott East, respectively.

"These acquisitions represent Noble's ability to source opportunistic investments that best utilize our value-adding core competencies," said Mit Shah (top right photo), Noble's chief executive officer.

 "The Hyatt Atlanta Midtown and the Memphis Marriott East redevelopments are strong examples of our ability to renovate and reposition first class real estate to optimize a hotels physical space, brand affiliation, and operational performance in order to maximize revenue potential and create stable yield."

The 191-room Hyatt Atlanta Midtown will open in early 2013 after a $21 million redevelopment.

The 243-room Memphis Marriott East will open in the fourth quarter of 2012 after a $19 million dollar comprehensive repositioning of the asset. 

For a complete copy of the company’s news release, please contact:

Bonnie Herring, Director, Corporate Communications, Noble Investment Group, +1-404-262-9660, bonnie.herring@nobleinvestment.com

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