Hospitality company Marriott International and Noble Investment Group have commenced construction on a new StudioRes hotel, marking the tenth ground-breaking of their collaborative brand.
According to the hotel operator, this event signifies the ongoing expansion of the extended-stay brand and reinforces Noble’s position in the long-term accommodation market.
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With its “smart”, functional approach, StudioRes caters to the needs of longer-stay guests, such as relocating families, professionals on assignment, and mobile travellers.
The brand is designed to be quick to market, easy to build and operate, and scalable.
Marriott International US and Canada global development officer Noah Silverman said: “Breaking ground on our tenth StudioRes with Noble reflects both the rapid momentum of the brand and the strength of our two companies’ longstanding relationship over three decades.
“With both companies’ expertise in long-term accommodations and Marriott’s distribution channels and the power of our nearly 248 million Marriott Bonvoy members, we are confident StudioRes is uniquely positioned to generate customer demand at scale, drive performance and sustain long-term growth.”
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By GlobalDataAccording to Marriott International, the demand for extended-stay hospitality is being driven by a range of factors, including increased workforce mobility and market undersupply.
Noble is leveraging this trend by scaling a “lean” platform across high-growth US markets, aiming for stability and performance throughout economic cycles.
Noble CEO Mit Shah said: “Noble is institutionalising one of the most resilient and undersupplied segments at the intersection of hospitality, mobility, and how people stay.
“We are scaling a branded platform to capture secular demand that has the ability to create stable cash flow and long-term value.”
In January 2024, Marriott International broke ground on the inaugural StudioRes-branded property in Fort Myers, Florida, in collaboration with Concord Hospitality.
More than 50 projects currently feature in the company’s signed pipeline, with approximately half of these projects under construction.
