Hotel management firm Aimbridge Hospitality inked a deal to merge with hotel operator Interstate Hotels & Resorts, creating an entity that, if approved by regulators, will manage 1,400 branded and independent hotel properties around the world.
)
The goal is to position the combined firm for growth and international expansion, according to a press release announcing the merger.
Together, Plano, Texas-based Aimbridge and Arlington, Virginia-based Interstate will manage a portfolio of hotels in 49 states and 20 countries.
They intend to enhance and grow their third-party hotel management services. The firms said together they can provide enhanced hotel service offerings, data and analytics, and increased support and resources for sales, marketing, revenue management and e-commerce in the hotel sector.
“Aimbridge is thrilled about the opportunity to join forces with Interstate to enable us to bring even more value to our hotel owners,” Aimbridge co-founder and CEO Dave Johnson said. “Our combined scale will ensure access to more robust data and the best talent to further differentiate us as leading hospitality managers. Personally, I am excited to work with Mike Deitemeyer, a good friend and well-respected industry leader.”
Private equity investor Advent International purchased a majority ownership stake in Aimbridge earlier this year and is slated to assume a majority ownership position in the merged entity.
The merger is expected to complete by the end of the year.
)
)
)
)
)
)
)
)
)
)
)
)