Noble Investment Group

What Noble Investment Group does

Noble Investment Group is a private, Atlanta-headquartered institutional real estate investment manager founded in 1993 by Mit Shah. The firm manages approximately $5 billion in assets under management across seven investment vehicles, having completed over 200 investments over a three-decade track record. Noble invests exclusively in the U.S. travel, hospitality, and flexible accommodations sector through a vertically integrated platform that combines investment discipline, asset management, design and development, and operating execution across three core strategies: upscale select-service hotels, upscale extended-stay hotels, and a Branded Long-Term Accommodations Platform. The firm operates a current portfolio of more than 70 hotel properties valued at approximately $3 billion, sourced through direct institutional relationships and acquired frequently below replacement cost via off-market channels.

Noble serves institutional limited partners including public pension plans, endowments, foundations, insurance companies, and wealth management firms through closed-end fund structures. Its largest fund to date, Noble Fund V, closed at $1 billion in January 2024 with 25 institutional investors, including a $150 million commitment from Host Hotels & Resorts. The firm maintains three-decade strategic partnerships with Marriott International, Hilton, and IHG Hotels & Resorts, and holds an exclusive development role for Marriott's StudioRes extended-stay brand with more than 50 projects in the signed pipeline and a current hotel portfolio spanning 19 states. Revenue is generated through management fees on committed and invested fund capital plus performance-based carried interest on realizations, with management operating from a single Atlanta headquarters under a Managing Principal-led structure.

The firm's operating technology stack centers on a proprietary data analytics and research platform used for deal sourcing, underwriting, revenue optimization, and margin improvement, complemented by integrations with property-level systems across its managed portfolio. Noble signs the Principles for Responsible Investment (PRI) and CEO Action for Diversity & Inclusion, and has received the Marriott Serve360 Award and Arne Sorenson Social Impact Leadership Award in recognition of ESG initiatives, including an 8.4% reduction in electric usage per occupied room.

Name

Noble Investment Group

Legal name

Noble Investment Group

Website

https://nobleinvestment.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

101–250 employees

Short description

Noble Investment Group is a private, Atlanta-based institutional real estate investment manager founded in 1993, managing approximately $5 billion in assets under management exclusively within the U.S. travel, hospitality, and flexible accommodations sector for institutional limited partners via closed-end funds.

Ownership category

akta.pro rank

Product category

Hospitality Real Estate Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investors, Nec (6799)

akta.pro primary industry

Hospitality (Hotels & Resorts) Asset Management (BPAJAMAE)

Keywords

• Institutional real estate investment
• Hospitality investment management
• Hotel private equity
• Extended stay accommodations
• Alternative asset management

Headquarters

HQ city

Atlanta

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fund Management Fees: Noble generates management fees from managing institutional real estate investment funds for institutional investors including pension plans, endowments, foundations, wealth managers, and insurance companies.
2. Performance/Carried Interest: The firm earns performance-based carried interest when investment returns exceed specified thresholds, aligning manager and investor interests.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Noble Investment Group is an institutional real estate investment manager that deploys capital from pension plans, endowments, foundations, insurance companies, and wealth managers into U.S. travel, hospitality, and flexible accommodations real estate through closed-end investment funds. The firm operates a vertically integrated platform spanning investment discipline, asset management, design and development, and operating execution across upscale select-service hotels, upscale extended-stay hotels, and a Branded Long-Term Accommodations Platform, with approximately $5 billion in assets under management.

Product overview

Noble Investment Group operates a vertically integrated institutional real estate investment platform focused exclusively on the travel and hospitality sector. The firm manages approximately $5 billion in assets under management through three primary investment strategies: upscale select-service hotels, upscale extended-stay hotels, and a Branded Long-Term Accommodations Platform. The Branded Long-Term Accommodations Platform represents Noble's expansion into flexible living solutions, incorporating acquired extended-stay portfolios such as WoodSpring Suites (acquired in multiple transactions totaling 30+ properties) and Sonesta Simply Suites (35-asset portfolio). Noble is also a key development partner for StudioRes by Marriott, Marriott's extended-stay brand, with over 50 projects in the signed pipeline. The platform combines investment discipline, asset management, and operating execution, with properties operated under major brands including Marriott International, Hilton, and IHG Hotels & Resorts.

Differentiator

Problem solved

Functional benefit

Brands

• Branded Long-Term Accommodations Platform: Noble's institutional platform focused on branded long-term accommodations—an asset class at the convergence of hospitality, mobility, and flexible living solutions. The platform leverages operational scale, brand trust, and market dislocation to create institutional-grade assets for stable cash flow and long-term value.
• Noble Fund V
• Extended Stay 2.0

Products and services

• Noble Investment Group Institutional Real Estate Platform Vertically integrated institutional real estate investment management platform deploying capital across U.S. travel, hospitality, and flexible accommodations for institutional limited partners through closed-end funds.
• Branded Long-Term Accommodations Platform Institutional investment platform targeting extended-stay hotels and flexible living solutions, designed to capture secular tailwinds including rising workforce mobility and housing constraints.
• Upscale Select-Service Hotel Strategy Investment strategy targeting supply-constrained upscale select-service hotels with diversified demand drivers including healthcare, higher education, government, logistics, and corporate travel, supported by durable margin profiles.
• Upscale Extended-Stay Hotel Strategy Investment strategy targeting upscale extended-stay properties with strong in-place operating performance and durable cash flow profiles, targeting 55% stabilized GOP margins, 80%+ stabilized occupancy, and double-digit unleveraged yields by Year Two.
• Noble Fund V Fifth value-add flagship fund with $1 billion in equity commitments targeting U.S. select-service, extended-stay, and branded long-term accommodations investments.

Quantifiable outcome

• Targeting 55% stabilized GOP margins, 80%+ stabilized occupancy, and double-digit unleveraged yields by Year Two for extended-stay platform
• +1 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Seven partnerships are on record, tiered flagship and core.

• Marriott InternationalflagshipStrategic or Co-development Partner · 9 June 2026Noble has a three-decade partnership with Marriott International as a major hotel developer and owner. The firm was recognized as Marriott's Developer of the Year and is scaling Marriott's StudioRes extended-stay brand, having broken ground on the 10th StudioRes hotel. Noble manages properties under Marriott brands including Courtyard, Fairfield Inn, Residence Inn, and StudioRes.
• IHG Hotels & ResortscoreStrategic or Co-development Partner · 28 April 2026Noble acquired a 10-property portfolio including IHG-branded properties spanning the Pacific Northwest, Midwest, Southeast, and Northeast. The portfolio includes Holiday Inn Express and other IHG brands as part of Noble's diversified hotel investment strategy.
• HiltonflagshipStrategic or Co-development Partner · 21 April 2026Noble is developing Tempo by Hilton hotels including the Savannah Historic District property, marking Tempo by Hilton's debut in Georgia. The firm also owns and operates other Hilton-branded properties. Noble collaborates with Hilton on new development and repositioning projects.
• Georgia State University - Cecil B. Day School of Hospitality AdministrationcoreStrategic or Co-development Partner · 10 February 2026Noble partners with Georgia State University's Cecil B. Day School of Hospitality Administration for the annual Hunter Hotel Investment Conference and the Bharat Shah Leadership Speaker Series. The partnership supports hospitality education and industry networking.
• McKibbon HospitalitycoreImplementation/ SI/ Consulting Partner · 13 January 2026McKibbon Hospitality manages Noble's Tempo by Hilton Savannah Historic District property. Headquartered in Tampa, FL, McKibbon is one of the nation's leading third-party hotel and restaurant management companies operating properties under Marriott, Hilton, Hyatt, and IHG brands.
• PRI (Principles for Responsible Investment)coreOthersNoble is a signatory to the Principles for Responsible Investment, demonstrating commitment to responsible investment principles and ESG integration.
• CEO Action for Diversity & InclusioncoreOthersNoble is a signatory to CEO Action for Diversity & Inclusion, demonstrating commitment to advancing diversity and inclusion within the organization and hospitality industry.

Scale indicators9 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Starwood Capital Group: Starwood Capital is one of the largest private real estate investment firms globally with significant hospitality investment activity. Like Noble, it pursues cycle-tested hospitality strategies and operates with institutional capital, making it the closest direct comparable in scale and focus within private hospitality real estate investing.
• Highgate Hotels: Highgate is a leading hospitality management, investment, and development firm operating and owning hotels under major brands. It is comparable to Noble as a vertically integrated hospitality real estate investor-operator with deep brand relationships across Marriott, Hilton, and IHG flags.
• HEI Hotels & Resorts: HEI is a privately held hotel owner, operator, and developer focused on upscale and upper-upscale branded properties. Comparable to Noble in its integrated ownership/operating model and concentration in select-service and lifestyle hotels under major brand families.
• White Lodging Services: White Lodging is a major owner, developer, and operator of branded hotels across Marriott, Hilton, Hyatt, and IHG systems. Like Noble, it pursues development and ownership of upscale select-service and lifestyle hotels with deep brand operator relationships.
• Rockbridge Capital: Rockbridge is a private hospitality investment, development, and management firm operating hotels under major brands. Comparable to Noble as a privately held hospitality-focused real estate investment manager pursuing institutional capital and full-service ownership/operating execution.

Broad incumbents

• Brookfield Asset Management: Brookfield is a global alternative asset manager with significant real estate and hospitality exposure through its real estate funds. While much larger and more diversified than Noble, both firms deploy institutional capital into hospitality real estate and compete for similar LP allocations from pensions and endowments.
• Host Hotels & Resorts: Host Hotels & Resorts is the largest publicly traded lodging REIT and an S&P 500 company. It is also a direct LP in Noble Fund V ($150M commitment) and joint venture partner. As a large-scale institutional hospitality owner, it represents both a capital partner and a strategic benchmark for Noble's investment strategy.
• Pebblebrook Hotel Trust: Pebblebrook is a publicly traded lodging REIT focused on urban and resort upper-upscale hotels. While public and concentrated in lifestyle/luxury vs. Noble's select-service focus, it is a relevant comparable for institutional hospitality real estate investors targeting brand-affiliated properties.
• Pebblebrook/Park Hotels alternative: Park Hotels & Resorts: Park Hotels & Resorts is a large publicly traded lodging REIT spun out from Hilton, focused on upper-upscale and luxury hotels. As a major institutional hotel owner and a comparable in the hospitality real estate investment space, it offers public-market benchmarking for Noble's select-service and extended-stay investment strategy.

Emerging players

• Aimbridge Hospitality: Aimbridge is one of the largest third-party hotel management companies in North America. Comparable to Noble in its hospitality focus and brand-affiliated operating footprint, though it operates as a management platform rather than an investment manager.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/noble-investment-group
• Xx.com/nobleinvestment
• Facebookfacebook.com/nobleinvestment

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Noble Investment Group