Marriott International and Noble Investment Group Break Ground on Their 10th StudioRes Hotel, Scaling New Extended Stay Brand

Noble Investment Group ("Noble") and Marriott International, Inc. ("Marriott") today announced their 10th groundbreaking together on a StudioRes hotel. A milestone for both companies, this groundbreaking marks the continued expansion of Marriott's new extended stay brand and advances Noble's leadership in branded long-term accommodations, an institutional asset class at the intersection of hospitality and flexible stays. Continue Reading With a smart, functional design and a fast-to-market prototype that is efficient to build, operate, and scale, StudioRes is designed to meet the dynamic interests of today's longer-stay guest, including professionals on assignment, relocating families, and mobile travelers in search of consistency and reliability."Breaking ground on our 10th StudioRes with Noble reflects both the rapid momentum of the brand and the strength of our two companies' longstanding relationship over three decades," said Noah Silverman, Marriott International Global Development Officer, U.S. & Canada. "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.""Noble is institutionalizing one of the most resilient and undersupplied segments at the intersection of hospitality, mobility, and how people stay," said Mit Shah, CEO Noble Investment Group. "We are scaling a branded platform to capture secular demand that has the ability to create stable cash flow and long-term value."Fueled by factors such as rising workforce mobility and undersupply, there is an accelerating demand for extended-stay hospitality. With a significant pipeline of branded long-term accommodations across high-growth U.S. markets, Noble continues to scale a lean, efficient platform that is anticipated to deliver stability and performance through various economic cycles.This milestone builds on the recent opening of the first StudioRes in Fort Myers, Florida, and reflects the brand's rapid expansion, with over 50 projects in the company's signed pipeline, around half of which are currently under construction.

Marriott International and Noble Investment Group Break Ground on Their 10th StudioRes Hotel, Scaling New Extended Stay Brand

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