Noble Investment Group and Marriott International have broken ground on their 10th StudioRes hotel.
“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,” Noah Silverman, Marriott International global development officer, U.S. & Canada, said in a statement. “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 of 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.”
This milestone builds on the recent opening of the first StudioRes in Fort Myers, Fla. The brand has more than 50 projects in the company’s signed pipeline, around half of which are currently under construction.