AC Hotels by Marriott to Arrive at Phipps Plaza

ATLANTA, September 24, 2014 — Simon, a global leader in retail real estate, and Noble Investment Group (“Noble”), a real estate private equity firm which specializes in the lodging and hospitality real estate sector, today announced a joint venture which will bring the acclaimed AC Hotels by Marriott brand to Phipps Plaza, the Southeast’s top luxury shopping destination located in Atlanta’s fashionable Buckhead district.

Inspired by the runways and fashion houses of Milan, AC Hotels by Marriott is an upper moderate tier lifestyle brand within the Marriott International, Inc. global collection of 18 brands. With “Feel the City” as its creative inspiration, the brand features simple, clean and crisp lines, marrying sophisticated European style with approachable design for a distinct and modern feel.

Located at the intersection of Peachtree Road and Wieuca Road and adjacent to Nordstrom at Phipps Plaza, the AC by Marriott Buckhead will be the brand's first hotel in Atlanta, and is scheduled to open in January 2016.

Catering to a wide range of sophisticated travelers, the AC by Marriott Buckhead will offer 166 rooms and suites and a variety of amenities including the AC Lounge, 2,500 square feet of flexible meeting space, the AC Library, health and fitness, an indoor pool and complimentary wireless Internet throughout the hotel.

"The combination of superior hospitality and luxury retail is an exciting way to enhance the total Phipps Plaza experience," said David Contis, president of Simon Malls. "Guests of the forthcoming AC Hotels by Marriott will enjoy close access to the wonderful array of high-end shopping and designer brands that Phipps Plaza offers."

"The AC by Marriott Buckhead will be a vibrant addition to this dynamic market where our organization was founded more than 20 years ago," said Mit Shah, Noble’s chief executive officer. "Phipps Plaza represents the best-in-class retail experience in our region and an ideal complement to introduce this innovative and stylish hotel experience to Atlanta."

"We are thrilled to introduce our popular AC Hotels by Marriott brand to the city of Atlanta," said Liam Brown, president of owner franchise relations for Marriott International, Inc. "We are confident that this new lifestyle hotel will find great success in this exciting neighborhood.”

About Phipps Plaza

Located in Atlanta’s prestigious Buckhead area, Phipps Plaza is the Southeast’s premier upscale shopping destination, and is a Simon mall. Its diverse and exclusive mix of fashion and luxury retail features signature shops for Gucci, Versace, Jeffrey, Giorgio Armani, Valentino, Hugo Boss and Bally plus Tiffany and Co., and is anchored by Nordstrom, Saks Fifth Avenue and Belk. Phipps Plaza also offers popular dining and entertainment experiences including four white-tablecloth restaurants – Davio’s Northern Italian Steakhouse, The Tavern, Twist, and YEBO Restaurant & Bar – a 14-screen AMC Theatre with luxury recliners in all auditoriums, and LEGOLAND Discovery Center. For a directory of stores and upcoming events, visit simon.com or find us at facebook.com/phippsplazabuckhead, twitter.com/ShopPhippsPlaza, and instagram.com/shopphippsplaza.

About Simon

Simon is a global leader in retail real estate ownership, management and development and a S&P100 company (Simon Property Group, NYSE:SPG). Our industry-leading retail properties and investments across North America, Europe and Asia provide shopping experiences for millions of consumers every day and generate billions in annual retail sales. For more information, visit simon.com.

About Noble Investment Group

Since 1993, Noble has specialized in making value-add, opportunistic and income investments in upscale select service and extended-stay hotels affiliated with Marriott, Hyatt, Hilton and Intercontinental. Through its private equity real estate funds, Noble has invested more than $3 billion in communities throughout the United States, creating thousands of jobs. As a fiduciary to state pensions, university endowments and foundations, Noble’s endeavors help to preserve and grow our limited partners’ capital which provides retirement benefits for millions of our country’s teachers, policemen and firefighters as well as financial resources for students to attend college. For more information, please visit www.nobleinvestment.com.