Aimbridge Awarded Eight Deals in 2009

  • Aimbridge Hospitality
  • 01.05.10
Despite a challenging year for the hospitality industry, Aimbridge Hospitality ended 2009 with strong portfolio growth.

One of the nation’s leading independent hotel investment and management firms reported that eight management contracts were executed this year and five more will be added over the next 30 days, including a new presence in the Caribbean.

Additions in 2009 included three aloft hotels in San Antonio and Houston, Texas, and Broomfield, Colo.; two Hampton Inns in Columbia, S.C., and Charlotte, N.C.; an Embassy Suites in Houston’s Energy Corridor; the Windsor Court Hotel in New Orleans; and The Plantation Golf Resort & Spa in Florida. Armed with an exceptional development team, Aimbridge Hospitality plans to enter 2010 focused on securing third-party management contracts nationwide, especially those in distressed markets.

“While every operator has been challenged by the economic downturn, Aimbridge Hospitality has produced RevPAR Index improvement in excess of 5 percent portfoliowide this year,” said Dave Johnson, Aimbridge Hospitality president and chief executive officer. “We have a history as proven operators, and as such we are able to leverage our expertise to withstand this economic storm.

“This economy is actually creating opportunity for us,” Johnson said. “The growth we achieved in 2009 is a testament to Aimbridge Hospitality’s effectiveness as an operator, and the value of our relationships with capital and brand partners. To better position ourselves for continued growth in 2010 and prepare for the imminent end to the current down cycle, we are ramping up our development efforts.”

Lynne Roberts, Aimbridge Hospitality senior vice president of development, said the company is proud to announce two promotions from within its development team. Dan Williams has been promoted to vice president of development and Kevin Dingle has been promoted to director of development.

“These promotions are a reflection on Dan and Kevin’s stellar performance during possibly one of the most difficult years in hospitality development history, and it’s symbolic of Aimbridge Hospitality’s confidence in our ability to continue to grow,” Roberts said. “Together these two industry veterans, who represent a combined 25 years of asset management, financial analysis, hotel operations and development experience, will continue to expand our portfolio, along with the assistance of our other valued development team members.”

Williams joined the Aimbridge Hospitality development group in 2005. A 15-year hospitality veteran, Williams previously worked on the operations side of the business, serving in various positions with Marriott International and Huntington Hospitality. He holds a BS from New Mexico State University and an MBA from the University of Texas.

Dingle joined the Aimbridge Hospitality development team in 2006, leaving Remington Hotels where he focused on feasibility, financial analysis and ground-up hotel development. He also held a three-year post with Crow Holdings in Dallas where his emphasis was on financial analysis, deal sourcing and asset management. He holds a BS from the University of Houston and obtained his MBA from California Polytechnic University.

Aimbridge Hospitality’s overall development focus for 2010 will be on expanding its portfolio with third-party management contracts and capitalizing on the current market of owners and lenders in need of a strong management presence to turnaround distressed assets. In addition to its corporate headquarters in Dallas, Aimbridge Hospitality has a development office in Chicago, led by Richard Sprecher. Additional development office openings will be announced later this month.

Aimbridge Hospitality is a hotel real estate and management company created to identify investment opportunities throughout the United States. Aimbridge provides management, asset management, capital renovation, supervision, accounting and consulting services for its strategic partners. Aimbridge currently operates hotel properties in the Embassy Suites, Doubletree, Hilton Garden Inn, Hampton Inn & Suites, Sheraton, Hyatt, Hilton, Marriott and Wyndham brands. Aimbridge also manages a number of independent hotels, including the Phoenix Inn & Suites brand of hotels and has several projects under development in the Starwood, Marriott and Hilton enterprises.



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