Monday, February 18, 2008

Noble Investment Group Adds Depth to Operations Team With Plans of Expanding Resort Portfolio

2/5/08 Privately held Noble Investment Group (“Noble”), a leading sponsor of private equity real estate funds and an integrated lodging and hospitality operating and development organization, today announced that it has added additional leadership depth to its operations team with the naming of Gary Rosenberg as vice president of resort operations. The company has current developments underway that will double its resort portfolio within the next three years.

Rosenberg has extensive domestic and international expertise in large scale resort operations. In his new role, Rosenberg will oversee operational aspects for Noble’s resort and destination properties, and will have an active role during the development phase of new resort investments. Noble is currently developing two new resort hotels with spa, golf and marina operations and has additional opportunities in the pipeline. Rosenberg brings a specialized focus to Noble, with an established background in superior product delivery, service standards and expertise in club and resort integration.

“As we grow our portfolio of resort properties, it is becoming increasingly important to have club and resort core competencies integrated into our operations team,” said Bob Morse, Noble’s chief operating officer and a managing principal. “Gary brings a specialized expertise, which will give our team an added competitive edge in the resort arena.”

Prior to joining Noble, Rosenberg was president of GKR Hospitality Group in Virginia, where he provided organizational resort and club management consulting. Previously, he was the executive vice president and chief operating officer for ClubCorp Resorts, where he developed a portfolio of strategically aligned resort properties in the United States and abroad. He also implemented a $120 million capital investment plan to completely restore the Homestead Resort in Virginia. In addition, he managed the asset’s financial performance, which resulted in a $23 million improvement in operating profits. While also with ClubCorp, he directed the opening and operating strategies of prominent resort properties around the world, including the Homestead, Pinehurst, Barton Creek, Palmilla, Palmas Del Mar, Ocean Reef, Daufuskie Island, Firestone and several others.

Rosenberg has a degree in business administration with an emphasis in marketing from the Brandywine College in Wilmington, Del. He is a member of the American Hotel and Lodging Association, the D.S. Lancaster Community College and Virginia Tech Board of Directors and has received the Virginia Hospitality Executive of the Year award.

About Noble
Noble Investment Group sponsors a series of private equity real estate funds and is an integrated operating and development organization that specializes in making value-added investments in hotels and resorts throughout North America. An award winning operator of more than 8,000 hotel and resort guest rooms, convention and conference centers with approximately 1,000,000 sq. ft. of meeting space, as well as championship golf, day and resort spa’s, upscale restaurants, and branded retail coffee stores, Noble and its predecessors have realized superior risk-adjusted returns while acquiring and developing nearly $2 billion in lodging and hospitality assets. Noble’s current discretionary private equity fund represents $310 million of equity commitments and the organization expects to invest more than $1 billion in assets during the next two years.

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