Noble buys Renaissance in downtown Reno

ATLANTA, Georgia – Noble Investment Group has acquired the Renaissance Reno Downtwon Hotel & Spa along the Truckee River in the heart of downtown. Noble would not name the price or seller, but a report suggests Noble acquired the asset for more than $37 million.

The hotel was owned by Fernando Leal, who served as managing partner and owner since its transition to the Renaissance brand in 2017. Leal oversaw the extensive renovation that converted the former Siena Hotel Spa Casino into a non-gaming Marriott property. Leal reportedly acquired the asset in 2015 for $10.4 million.

Noble said Reno represents one of the fastest-growing metropolitan areas in the United States, supported by sustained in-migration, a business-friendly tax environment, continued infrastructure investment, and expanding corporate demand.

The market has attracted significant commitments from global leaders across technology, data infrastructure, electric vehicle manufacturing, advanced manufacturing, and logistics - including Tesla, Google, Microsoft, Apple, and Switch - alongside major distribution operations serving the Western U.S.

Noble said these investments have accelerated high-quality job creation, strengthened the region’s income profile, and positioned Reno as a strategic hub for innovation and supply chain infrastructure. It added that Reno’s diversified economic base - spanning technology, manufacturing, logistics, healthcare, professional services, and tourism - combined with its multi-season leisure appeal and proximity to Lake Tahoe, underpins resilient lodging fundamentals and durable year-round demand.

“Reno embodies the macroeconomic and demographic characteristics we prioritize when investing in high-growth markets,” said Ben Brunt, chief investment officer at Noble. “The property’s premier riverfront location and strong brand positioning provide a compelling platform to execute targeted capital enhancements and operational initiatives designed to drive performance and capture the region’s continued expansion.”