StateView — Autograph Collection by Marriott at NC State University
Total Development Cost
$37M
Size
118,000 SF
Keys / Units
164 Keys
Procurement
RFP
Raleigh, NC/Higher Education/Fee Developer
After winning the national competition for NC State development rights, CEI sold its interest to Noble Investment Group as owner/operator. Noble then hired CEI as fee developer for all feasibility, financing, and preconstruction work. The hotel commands one of the highest average daily rates in the submarket given its waterfront presence on Lake Raleigh. The property has performed at 135% of its operating pro forma.
Key Outcomes
—Won national competitive process
—135% of operating pro forma
—Highest ADR in submarket
—Marriott Autograph Collection flag
—On time, on budget delivery
Next Project
The L Building