Arc Hospitality Buys $300M in Hotels
The American Capital Realty Hospitality Trust has been busy buying hotel properties lately. Its latest acquisition is a portfolio of 13 hotels from Noble Investment Group for a reported $300M. Noble’s hotel portfolio includes 12 select-service hotels and a full-service hotel in nine markets, including Chicago. Brands in the portfolio include Hyatt Hotels, Hilton Hotels & Resorts and Marriott International. Hotel flags include Hyatt Place, Hilton Garden Inn, Hyatt House, Courtyard by Marriott and Hilton. ARC Hospitality previously bought 26 hotels from Summit Hotel Properties, and ARC’s spending spree now makes it one of the largest hospitality REITs in North America, with 166 hotels and over 20,000 rooms in 34 states; 95% of ARC’s portfolio is branded by Hilton Hotels & Resorts, Marriott International or Hyatt Hotels.