Noble Investment Group ("Noble"), a leading real estate investment management firm specializing in the upscale U.S. lodging sector, and Host Hotels & Resorts, Inc. ("Host"), a member of the S&P 500, the largest lodging real estate investment trust, and one of the most respected investors in luxury and upper-upscale hotels in the world, have formed a transformational strategic partnership to cultivate and expand innovative travel, leisure, and hospitality opportunities within Noble's real estate investment management and fund sponsorship platform.The partnership will combine Noble's operational expertise and development acumen with Host's scale, market insights, data analytics, and breadth of resources to cultivate and source differentiated investment strategies including property technology solutions, development, and alternative lodging.
As announced by Host, they are making a $150.0 million capital commitment as a limited partner in an existing Noble investment vehicle and will provide Noble with exclusive first-look at select-service and extended-stay hotel opportunities sourced through Host's channels. Host is also making a minority investment in Noble's fee-based asset management business, independent from the Noble team's investment interests in their existing funds.
"As we continue to expand our institutional investment management platform, this strategic partnership further augments Noble's ability to develop, source, and execute innovative growth strategies in travel, leisure, and hospitality,"
-Mit Shah, Noble's Chief Executive Officer.
We are incredibly excited to invest with Noble, a leading private hospitality investment manager. In addition to operating through multiple cycles over three decades, we were particularly attracted to Noble's proven expertise in sourcing and executing scalable select-service and extended-stay hotel investment opportunities," said James F. Risoleo, Host President and Chief Executive Officer. "Host will benefit from both chain scale diversification and the ability to incubate and invest in future lodging-adjacent strategies.
Both Host and Noble are deeply committed to corporate responsibility and operating with high business standards, principles, and integrity. Ranked among the world's most sustainable companies in S&P Global's Sustainability Yearbook, named one of America's Most Responsible Companies by Newsweek, and a recognized leader by Dow Jones Sustainability Indices (DJSI World and DJSI North America) and CDP, Host is dedicated to investing in industry leading ESG best practices and strategies. The majority of the Noble organization is comprised of women and minority leaders. Host is expected to provide thought leadership to Noble's ongoing environmental, social, and governance strategies.
Noble Investment Group
Founded in 1993, Noble is a leading real estate investment manager with a diverse team specializing in the upscale U.S. lodging sector. Through its institutional real estate funds, Noble has invested nearly $5 billion in communities throughout the country, adding value across cycles and creating thousands of jobs. As a signatory to the UNPRI. the CEO Action for Diversity & Inclusion, and a fiduciary to foremost pensions plans, endowments, and foundations, Noble's endeavors help to preserve and grow its limited partners' capital, which assists in providing retirement benefits for our country's teachers, law enforcement, firefighters, other pensioners, and financial resources for students to attend college. For more information, please visit www.nobleinvestment.com
Host Hotels & Resorts
Host Hotels & Resorts, Inc. is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 75 properties in the United States and five properties internationally, totaling approximately 44,400 rooms. The Company also holds non-controlling interests in six domestic and one international joint venture.