Aimbridge boosts portfolio with Residence Inn by Marriott signing

Aimbridge Hospitality EMEA has been named as the new third-party operator behind the Residence Inn by Marriott hotel in Manchester, strengthening its extended stay hotel portfolio in the UK and Europe. The 155-room property, owned by Park Hotels Holding (PHH) and asset managed by Ciel Capital, transitioned to Aimbridge EMEA - a division of global hospitality management leader Aimbridge Hospitality earlier this month. The aparthotel is located in Manchester’s Northern Quarter and reopened as a Residence Inn last year following an extensive refurbishment. It comprises a mixture of studios and one-bedroom suites, all with fully equipped kitchens, across 12 floors, lounge areas, gym and laundry facilities as well as a bar and restaurant with grab-and-go. Aimbridge said it will bring its “operational expertise and talent development” to the Manchester property, with a focus on memorable guest experience and property performance. David Anderson, divisional president at Aimbridge EMEA, said: “We’re excited to welcome the Residence Inn by Marriott in Manchester to our UK portfolio, expanding our presence in the extended stay market, which is growing fast as people seek out quality accommodation for longer trips, often combining business with leisure. “We already manage multiple extended stay properties across the UK and Europe, and across multiple brands, and we’re well adept at driving success within this vertical.With the robust resources available to us, including access to top talent and data insights coupled with a keen understanding of delivering on brand standards, we are equipped to support owners in a truly unique way that accelerates the development and performance of properties, creating great experiences for guests as well as superior returns for both owners and investors.” The extended stay vertical continues to grow for Aimbridge, with the Residence Inn signing in Manchester joining other extended stay properties within its portfolio across Europe, with brands including Accor’s Adagio, IHG’s Staybridge Suites, and further Residence Inn by Marriotts in both Ghent and Sarajevo. According to the Future Market Insights Extended Stay Hotel Market Size report, the global extended stay market is currently worth an estimated $54.5bn (£43bn) dollars, estimated to grow by 11% to more than $116bn (£91bn) by 2033. Gilbert Grosjean of PHH said: “We’re delighted to expand our relationship with Aimbridge and look forward to working together to take the asset through to stabilisation.” Vedrana Riley, CEO of Ciel Capital, added: “Besides continuing our longstanding collaboration with Aimbridge, we are also delighted to welcome Nails by Yulia, a high-end beauty bar along with a boutique coffee shop which will complement the hotel offering.”