Noble Investment Group (Noble) has taken over the dual-branded Aloft and Element Arundel Mills from LTD Hospitality Group.
The hotels, which were opened in 2009 and renovated in 2015, are located in the Baltimore-Washington Metropolitan area and proximate to BWI International Airport and Fort Meade.
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The properties are situated adjacent to Arundel Mills mall, Maryland’s largest upscale retail centre, and Maryland Live! Casino.
The area, which is a prominent corporate centre, is home for companies including General Dynamics, Northrup Grumman, Siemens, CSC, Aerotek and Booz Allen Hamilton.
Noble principal Ben Brunt said: “The Arundel Mills/BWI market has continued expand with a consistent demand base anchored by defense and government related businesses.
“The Aloft and Element acquisition provides Noble the opportunity to acquire an institutional quality, dual-branded hotel, at a significant discount to replacement cost; and at a time when these exciting brands are also set to benefit from joining the Marriott reservation system.”
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By GlobalDataNoble Investment Group paid an undisclosed price for the 142-room Aloft and 147-room Element. The hotels were built in 2009 and renovated in 2015.
The 142-room Aloft has amenities such as a 24-hour business centre and fitness centre, an indoor pool, a self-service car wash and hotel-wide complimentary high-speed wireless internet access.
The Element has 147 studios and suites, which come with fully-equipped kitchens with a full-sized refrigerator, range top, microwave, and coffee maker.
It also offers a 24-hour business centre and fitness centre, indoor pool, outdoor patio with self-service grill, 24-hour laundry room, and complimentary internet access throughout the hotel.
Image: Noble Investment Group buys Element and Aloft hotels. Photo: courtesy of PRNewswire/ Noble Investment Group
