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Noble Investment Group Opens the 400-room
Raleigh Marriott City Center
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The Public and Private Project Is Attached to the Raleigh Convention Center


 
                                           
RALEIGH, N.C., August 27, 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 celebrated  the grand opening of the  400-room Raleigh Marriott City Center located at 500 Fayetteville Street and attached to the new 500,000 square foot Raleigh Convention Center.  The Raleigh Marriott City Center brings four-star luxury accommodations to the heart of the city’s urban core and is a key component of a vibrant new dining and entertainment district within the $1 billion renaissance of Raleigh’s city center.   The hotel’s inviting, grand lobby was designed to be the living room of the Raleigh and Wake County communities where guests can relax and unwind as they gather to enjoy the culinary creations of acclaimed chefs Marco and Gianni Betti’s Posta Tuscan Grille and neighborhood gathering spots, Bar Posta and Starbucks Coffee.  
 
“We are very pleased and excited to have this prominent new Marriott in the heart of Raleigh’s city center,” said J.W. Marriott, Jr., chairman and CEO of Marriott International, Inc.  “Noble Investment Group is an award winning partner of Marriott and we congratulate them on bringing this spectacular hotel to life for all residents and visitors to the Raleigh and Wake County areas.”

“Four years ago, we set out to determine the lasting future of our city’s downtown core, and as a result of an enormous amount of passion and commitment, today we celebrate the completion of an important anchor for that vision,” said Raleigh Mayor Charles Meeker.  “The Noble organization has been an extremely valuable partner to us and delivered a magnificent hotel that will prove to be a great enabler to the success of the new Raleigh Convention Center and tourism in our region. The Raleigh Marriott City Center is a perfect example of how the public and private sectors can work together to realize goals of great significance to our community.”  

“The commitment of this community’s leaders to make Raleigh a hub for world-class business, a prominent center for arts and culture, a destination for meetings and conventions, and a thriving place to live, dine and play, has fostered a remarkable  transformation of this vibrant city,” said Mit Shah, senior managing principal and chief executive officer for Noble.  “We are proud to be an integral part of this community and believe that our investment will bring a new level of hospitality and amenities that will continue to galvanize the landscape of Raleigh’s city center.”   
 
Located twenty minutes from Raleigh-Durham International Airport, the 16-story hotel features 400 rooms, including 20 suites and more than 15,000 square feet of technologically advanced meeting space featuring a 9,000 square-foot Grand Ballroom and another 6,000 square feet of individual/breakout meeting rooms.  The Raleigh Marriott City Center is the official headquarters of the new Raleigh Convention Center.  Complete with a vast 30,000 square-foot ballroom and more than 150,000 square feet of functional meeting space, the hotel and convention center provide abundant solutions for groups and meetings of any size.   

At the Raleigh Marriott City Center, meeting planners and guests will find all the amenities the world-renowned Marriott name commands, including on-site audio/visual services, first class business center, high-speed Internet access, room service and laundry/valet service.  Luxurious bedding with 300-thread count sheets, large bathrooms featuring wood, marble and chrome elements, and clean lines with warm toned walls will welcome guests into comfortable, urban-style surroundings influenced by the city’s rich history and culture.  State-of-the-art hotel technology is displayed in each room featuring 32-inch flat panel plasma televisions, complete with speakers, digital music and data ports, and a custom designed pivoting desk and ergonomic chair for the business traveler.  Additional amenities will ensure quality “free time” as guests enjoy the scenic pool and extensive fitness center.    
 
Posta Tuscan Grille and Bar Posta offers the finest in Italian tradition, from classic favorites to authentic Tuscan fare, prepared by proprietor Marco Betti and his brother, Executive Chef Gianni Betti from Florence, Italy.  Posta, which translates to “Place” in Italian, provides a memorable dining experience, whether seated at the restaurant’s outdoor terrace, in a private dining room, or in front of the open kitchen.  Friends gather and unwind at the communal table in Bar Posta, sampling a great selection of Italian and American wines from the extensive wine collection.  Posta Tuscan Grille is open for breakfast, lunch and dinner, providing guests with delicious handcrafted fare, while the spacious Bar Posta serves until midnight.  
 
Guests looking for a quick bite or a morning pick-me-up will enjoy the large 1,400-square-foot Starbucks Coffee Store, which also has 30 seats for outdoor dining.  Accessible from Fayetteville Street, as well as through the hotel lobby, Starbucks serves traditional coffee and tea selections, as well as sweet treats, such as double chocolate brownie cookies.  Starbucks is open from 6 a.m. to 7 p.m. daily. 

About Marriott International, Inc.
MARRIOTT INTERNATIONAL, Inc. (NYSE:MAR) is a leading lodging company with more than 3,000 lodging properties in the United States and 66 other countries and territories.  Marriott International operates and franchises hotels under the Marriott, JW Marriott, The Ritz-Carlton, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites and Bulgari brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club, Horizons by Marriott Vacation Club, The Ritz-Carlton Club and Grand Residences by Marriott brands; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers.  The company is headquartered in Bethesda, Md., and had approximately 151,000 employees at 2007 year-end.  It is ranked as the lodging industry’s most admired company and one of the best companies to work for by FORTUNE®, and has been recognized by the U.S. Environmental Protection Agency (EPA) with the 2007 Sustained Excellence Award and Partner of the Year since 2004.  In fiscal year 2007, Marriott International reported sales from continuing operations of $13 billion.  For more information or reservations, please visit our web site at www.marriott.com.
 
About Noble Investment Group
Noble is a leading sponsor of private equity real estate funds and an integrated operating and development organization that specializes in making value-added investments in hotels and resorts throughout North America. An award winning operator of more than 8,000 hotel and resort guest rooms, convention and conference centers with approximately 1 million sq. ft. of meeting space, as well as championship golf, day and resort spas, upscale restaurants, and branded retail coffee stores, Noble and its predecessors have realized superior risk-adjusted returns while acquiring and developing more than $2.5 billion in lodging and hospitality assets. Noble’s current discretionary private equity fund represents $310 million of equity commitments, which provides the organization the ability to invest more than $1 billion in lodging-related assets. For more information, visit www.nobleinvestment.com.

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Contact:

Noble Investment Group
Bonnie Herring (404) 262-9660
Bonnie.herring@nobleinvestment.com
www.nobleinvestment.com

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Also See: Three Hotel Development Teams Submit Plans to City of Raleigh for Convention Center Hotel / December 2003
Stormont-Noble Selected to Build $60 million 400-room Marriott in Downtown Raleigh, N.C. / January 2004
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