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Noble Group buys Valencia Hyatt

New owner of 244-room hotel based in Atlanta

Posted: July 9, 2008 1:39 a.m.
Updated: September 9, 2008 5:02 a.m.
 
Noble Investment Group, an Atlanta-based company, announced Tuesday that it has purchased the Hyatt Valencia.

The Hyatt Valencia, located across the street from Westfield Valencia Town Center, includes 244 rooms and the Santa Clarita Conference Center, a 16,000-square-foot space that is frequently used for meetings.

Mitesh Shah, Noble Investment Group senior managing principal and CEO, sees the reputation of the Hyatt Valencia as a reason for the acquisition.

“The Hyatt Valencia is a world-class hotel in the highly regarded Valencia community,” Shah said in a statement. “As the largest Hyatt franchise partner, Noble quickly realized the great reputation the team at the Hyatt Valencia had built through their dedication of providing superior customer service, an exceptional product and by being deeply rooted in the Santa Clarita community.”

As for any changes, Shah said Noble, a sponsor of private equity real estate funds and a company that specializes in making investments throughout North America, will retain the “vast majority of the original team” at the hotel, which includes general manager Chris Aldieri.

However, the actual structure will continue to be updated.

“The physical attributes of the hotel are in exceptional condition, however, Noble is going to finish the remaining already planned improvements, such as equipping all guest rooms with 37-inch flat screen televisions and upgrading the technology systems throughout the hotel, in addition to adding new elements to the Santa Clarita Conference Center,” Shah said in the statement.

Noble was unable to disclose  the selling price of the Hyatt Valencia.

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