News for the Hospitality Executive
Noble Investment Group Acquires the AmeriSuites in Schaumburg, Illinois
Hotel Will Undergo a $5 million
dollar Repositioning and
Re-open as Hyatt Place Chicago/Schaumburg
ATLANTA, Ga. – April 14, 2008 – Privately held Noble Investment Group (“Noble”), a leading sponsor of private equity real estate funds and an integrated lodging and hospitality operating and development organization, today announced the acquisition of the AmeriSuites in Schaumburg, Illinois. The investment marks the company’s eleventh acquisition in Noble Hospitality Fund, LLC, the organization’s current fully discretionary private equity real estate fund.
The 126-room hotel is located in Schaumburg, a major suburb in the northwest corridor of Chicago and the largest center for economic development outside of the city. The hotel will undergo a comprehensive $5 million dollar repositioning and re-open as Hyatt Place Chicago/Schaumburg later this year.
“Noble’s organizational competencies continue to allow us to source
and execute investment opportunities throughout a wide range of lodging
segments from resorts and full service hotels to those in the select service
category,” said Rodney Williams, Noble’s managing principal and chief investment
officer. “The common denominator continues to be our consistent investment
strategy through our value-added approach.”
|Also See:||Hyatt Corporation Will Purchase the 143-unit AmeriSuites Chain from Affiliates of The Blackstone Group; Plans to Invest $150 million to Create New Brand Headed by Jim Abrahamson and Mike Leven / December 2004|