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April 25, 2012

Noble buys Courtyard by Marriott Nashville Vanderbilt/West End

US-based lodging and hospitality investment organisation Noble Investment Group has announced the acquisition of the Courtyard by Marriott Nashville Vanderbilt/West End Hotel in Nashville, Tennessee, US for an undisclosed amount.

By Paul Dennis

US-based lodging and hospitality investment organisation Noble Investment Group has announced the acquisition of the Courtyard by Marriott Nashville Vanderbilt/West End Hotel in Nashville, Tennessee, US for an undisclosed amount.

According to Noble, the 226-room hotel will undergo a $7m property improvement plan.

As part of the redesign, a Courtyard Bistro restaurant and a bar will be developed, while other property improvements include a fitness centre and modern furnishings and amenities added to the hotel guest rooms and throughout all areas of the hotel.

Noble chief investment officer Rodney Williams said the company was pleased to add the hotel to its portfolio in a market that has stable corporate, educational, medical, entertainment and leisure demand generators.

"Noble’s significant renovation and repositioning of this asset will allow the hotel to take advantage of its exceptional location with a completely refreshed physical product in order to maximise its operating performance," Williams added.

The hotel is located at the corner of 19th street and West End, the major east-west thoroughfare connecting Downtown Nashville to the West End area, and is within walking distance of Vanderbilt University, major healthcare facilities, restaurants and nightlife.

Noble has invested more than $2bn in upper upscale and upscale hotels located throughout the US, which are affiliated with brands including Marriott, Hyatt, Starwood and Hilton, and its current real estate fund represents $310m of equity commitments.

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