Aimbridge records strong portfolio growth through 2023 deals

Aimbridge Hospitality, the global hospitality management company and third-party hotel operator, has revealed it closed 2023 with a strong mix of deals, new market entries, and property reopenings in its global portfolio, continuing to fuel growth and build momentum going into 2024. During 2023, Aimbridge grew its portfolio through a combination of management changes, ownership transitions, receiverships, and new build projects across the United States and its two geographic divisions servicing the EMEA and LATAM regions. Renovations and construction projects continued to be an ongoing part of Aimbridge’s managed portfolio, with dozens of properties receiving major renovations or undergoing PIP updates under the purview of the Aimbridge team. In 2023, this included breaking ground on the Grand Hyatt Grand Cayman and the Autograph Collection Caruçao, both new builds set to open in 2025; overseeing the Millennium Hotel Minneapolis through a major PIP project and rebrand; and rebranding a recently transitioned portion of its LATAM portfolio to international flags like Sheraton and Holiday Inn. More projects are on the horizon in 2024, including Aimbridge being named as the operator of the Rugby Football Union’s Twickenham Stadium Hotel, which will transition to a Radisson RED property this year. Mark Tamis, global president at Aimbridge Hospitality, said: “As the industry leader, we know the important and impactful role Aimbridge has in shaping the third-party management space – a space that has clearly emerged as the future of hospitality. “Our desire to build the best culture for our associates, strengthen our relationships with our brand partners, and deliver superior performance for our owners remains a constant guiding force. Thanks to our deep market asset-type and brand expertise, organizational scale, and exceptionally trained talent, we’re well positioned to help both existing and new partners outperform.” Allison Reid, chief global growth officer added: “In 2023, we implemented a new global growth plan focused on clear alignment with owners, investors, and brand partners. “Geographical and segment-based deployment, combined with added resources in development executives, data intelligence, and feasibility positioned Aimbridge to provide unparalleled insights, data analytics, and response times. Scale allows us to do things no one else can do and is what helps further differentiate our business model.”