Noble Investment Group Acquires SpringHill Suites in Miami
Thursday July 24th, 2014 - 9:12AM QZE
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MIAMI—Noble Investment Group has acquired the SpringHill Suites by Marriott Miami Airport South.
The recently renovated property, which includes 150 suites, is located adjacent to the Miami International Airport and marks the company's second Miami hotel. The property also features 480 sq. ft. of meeting space for meetings up to 30 persons.
"This acquisition expands Noble's footprint in Miami's Airport submarket, which continues to experience robust year-over-year demand growth. Our ability to establish operating synergies in the submarket will allow us to further drive RevPAR penetration at the hotel and yield on this investment," stated Ben Brunt, principal, Noble Investment Group.
Tags: Noble Investment Group • SpringHill Suites • Miami • Hospitality • Acquisitions • Owners/Operators • Investment Funds •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.