|In the late 1970’s Patrick R. Colee was an ambitious and aspiring young entrepreneur who took advantage of several opportunities to be involved in diverse areas of real estate development. He formed a company then known as Westgroup Partner, Inc., and became a buyer of diverse interests in commercial, retail, office, residential, and multi-family real estate projects. The projects Westgroup Partner, Inc. undertook became unique commercial structures in harmony with local culture and the environment.|
After fruitless attempts to hire an effective hotel management company to operate the hotel, Mr. Colee decided to lead a charge to fully renovate the hotel and create his own hotel ownership and management organization. The result was the genesis of Noble House Hotels and Resorts and the revitalization of one of the most historically significant luxury hotels in the United States. For the next twenty-five years under the tutelage of Mr. Colee, the Adolphus thrived in its tradition of elegance, charm and excellence.
Consumed with a passion for all aspects of the hotel business Mr. Colee and his Westgroup Partner colleagues steadily increased their interest in hotel ownership through the acquisition of unique properties, each of which had its’ own culturally significant reputation.
In the ensuing decade, Westgroup acquired the Edgewater Inn in Seattle, Washington – at that time and today the only waterfront hotel in Seattle.
Recognizing that he and the Westgroup Partner, Inc. staff now exuded a genuine passion for the hotel ownership and management business, and an uncanny ability to select properties with great potential, Mr. Colee next acquired the Portofino Inn in Redondo Beach (Los Angeles), California. Shortly after the takeover, the hotel was demolished by a “storm of the century”, leaving Westgroup Partner, Inc. with a structural shell of a previously viable operation. Against significant odds, Mr. Colee rebuilt the hotel, and to avoid recurring catastrophe, encouraged the local community to construct the now famous Redondo Beach breakwater directly in front of the hotel.
In the early ‘90’s the company changed its name to Noble House Hotels and Resorts, Ltd. (Noble House), and added its first Florida hotel, the Daytona Beach Hilton, which had been constructed by the Root family. The Daytona Beach acquisition signaled Mr. Colee’s entry into the desirable Florida market. Following Daytona, Mr. Colee acquired Little Palm Island, the world-class island resort located in the Florida Keys.
Known in the travel industry as one of the most exclusive and desirable island retreats in the world, Little Palm Island became the centerpiece of the portfolio and the crown jewel of Noble House Hotels and Resorts. Florida quickly burgeoned into the bastion of Noble House Hotels, with the addition of the Grove Isle Hotel located in Miami’s exclusive Coconut Grove neighborhood, the Ocean Key Resort in Key West, and the LaPlaya Beach and Golf Resort in Naples.
As the company matured, Mr. Colee diversified the geography of the collection by adding unique, one-of-a kind hotel properties in locations including Santa Fe, New Mexico and San Diego. Simultaneous to these strategic acquisitions Noble House was also accumulating a collection of management agreements coupled with interests from hotel ownership companies and “REIT’s”, covering properties located in prime locations such as Seattle, Southern California, Newport, Rhode Island and the Florida panhandle.
|Today Noble House Hotels & Resorts, Ltd. is a privately held, fully integrated hotel ownership and management company. The Company currently owns and/or operates 18 upper segment boutique hotels. With its present portfolio of over 2,300 rooms, the Company is consistently ranked by industry and peer organizations as among the top hotel management firms in the country.||The Company is ready to acquire new and additional unique one-of-a-kind, ‘high barrier to entry’ lodging and other hospitality projects. The Company possesses all of the ingredients required to take advantage of the myriad opportunities that are about to arise. Those ingredients include a stellar reputation in the industry, a strong balance sheet, evidence of ability to thrive in the maintenance of its own portfolio during difficult economic times, liquidity and financial stability.
A period of unsurpassed opportunity for those prepared for the recent economic climate is about to emerge. Noble House stands ready to participate in an ambitious yet controlled fashion.
|Noble House is in search of equity partners with whom to join forces in an active campaign to acquire lodging properties and management agreements. The nature and structure of such an equity transaction is junior in importance to the requirement that the ‘partners’ share the same investment philosophy, seize upon the same sense of pride and satisfaction brought by together, creating a stronger, more reputable Company.|