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Courtyard by Marriott at Hanes Mall in Winston Salem, NC |
Atlanta, November 1, 2002
� Noble Investment Group, a nationally renowned hospitality company based
in Atlanta, assumed the management today of the Courtyard by Marriott in
Winston Salem, North Carolina. The 123 room hotel is located in the
Hanes Mall area of Winston Salem and is owned by Raleigh, North Carolina-based
Winston Hotels (NYSE: WXH), a real estate investment trust (REIT) and owner
of premium limited-service, upscale extended-stay and full-service hotels.
Noble has partnered with Winston Hotels on several
hotels and considers them a valuable strategic ally. The management
of the Courtyard by Marriot also thrusts Noble into the arena of third
party management as hotel owners look to be accretive in these economic
times.
Noble President and COO, Mit Shah, added �Our management of this Courtyard by Marriott is a strategic opportunity for Noble. It allows us to utilize our operational expertise to drive value and profitability consistent with the track record of our company while simultaneously launching Noble�s entry into providing that value in the form of third party management to strong owners like Winston Hotels. We plan to focus on opportunities to selectively leverage our management talent in this way as the need for deliverable hotel operating results moves critically to the forefront.� Founded in 1979, Noble is a privately held hotel ownership, management and development company based in Atlanta, Georgia. Currently, Noble owns and operates 20 hotels with a combined value of over $225 million. Noble hotels represent well over 2,000 rooms in 6 southeastern states and $60 million in annual revenue. Noble hotels are primarily affiliated with Marriott, Hilton and Six Continents upscale brands. The company has consistently been named one of the �Top 100 Management Companies� in the United States and is the recipient of numerous national industry awards for service, excellence and quality. |
Contact:
Bonnie
Herring
Noble Investment Group 404.262.9660 www.nobleinvestment.com |