Aimbridge Hospitality And Interstate Hotels & Resorts To Merge
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.