Noble Acquires Ten-Hotel Upscale Select-Service and Upscale Extended-Stay Portfolio

Diversified Marriott, Hilton, and IHG-Branded Portfolio Acquired Below Replacement Cost; Transaction Reflects Continued Conviction in Supply-Constrained Travel and Hospitality Segments

Atlanta, Georgia (April 28, 2026) - Noble Investment Group ("Noble") today announced the acquisition of a ten-property portfolio of upscale select-service and upscale extended-stay hotels. The transaction reflects Noble's continued thematic deployment of institutional capital into travel and hospitality segments characterized by constrained supply, diversified demand drivers, and durable margin profiles - structural attributes that Noble projects to generate consistent, risk-adjusted income across market cycles.

The portfolio comprises ten Marriott, Hilton, and IHG-branded properties spanning the Pacific Northwest, Midwest, Southeast, and Northeast-a deliberately diversified footprint anchored by complementary demand generators, including healthcare, higher education, government, logistics, and corporate travel. The assets are newer vintage, with an average age of less than six years, and deliver strong in-place current income, premier global loyalty and distribution platforms, and a basis meaningfully below replacement cost.

Noble sees a rare alignment of conditions in today's travel and hospitality environment: construction costs at historic highs and materially constrained financing for new development; diversified business, leisure, and extended-stay travel patterns anchoring recurring, multi-night occupancy and durable revenue performance; and lower operating cost intensity, leaner labor models, and more efficient capital reinvestment cycles in the upscale select-service and extended-stay segments - supporting durable cash flow and margin resilience across cycles.

"This is precisely the kind of opportunity our platform is built to source, underwrite, and execute," said Dustin Fisher, principal and head of acquisitions at Noble. "Ten newer-vintage, well-located assets, premium brands, geographic diversification, and an attractive basis-paired with a hands-on operating capability that allows us to compound value through disciplined asset management."

About Noble

Founded in 1993, Noble Investment Group is an institutional real estate investment manager focused exclusively on the travel and hospitality sector. With $5 billion in assets under management and a three-decade track record across cycles, Noble serves as a fiduciary to many of the world's leading institutional investors - pension plans, endowments, foundations, wealth managers, and insurance companies, through a vertically integrated platform that combines investment discipline, asset management, and operating execution across the upscale select-service, upscale extended-stay, and branded long-term accommodations segments. Noble has been recognized among PERE's Top 200 Global Investment Managers and named a Best Place to Work by Pensions & Investments and the Atlanta Business Chronicle. The firm's investment philosophy centers on enduring performance, partnership, and purpose.

Learn more at https://www.nobleinvestment.com.