iCrowdNewswire Jan 12, 2021 11:42 AM ET
Aimbridge Hospitality, the leading, global, third-party hotel management company, announced it has added 25 Extended Stay America properties to its growing portfolio. With the addition of these new properties, all situated in prime locations throughout Texas and the Midwestern region, Aimbridge has become the largest third-party manager of Extended Stay America hotels.
This is another milestone for the partnership between Aimbridge and owners Three Wall Capital, who have now selected Aimbridge to manage over 50 of its extended stay, full service, and economy properties. Founded by Alan Kanders, Three Wall Capital is a hospitality equity and debt investment group for institutional and individual investors who have completed over $1.0 billion in transactions in a principal investor capacity since inception in 2008. “We have enjoyed mutual success alongside Aimbridge Hospitality and are pleased to expand on our partnership with these 25 Extended Stay America Properties,” said Kanders.
Aimbridge President and CEO Mike Deitemeyer added: “Our experience, focus, and ability to excel in this extended stay vertical has been paramount to our success, and that of hotel ownership. We are pleased to leverage this ability as we continue to enhance our partnership with both Three Wall Capital and Extended Stay America.”
The increased demand for affordable properties with amenities such as kitchens with a full-sized refrigerator, dishwasher, and range makes Extended Stay America particularly attractive to guests. The new Extended Stay America properties added to Aimbridge Hospitality’s portfolio, with a total of 2,430 keys, include:
- Texas: 11 properties with a combined 1,067 keys
- Indiana: 6 properties with a combined 612 keys
- Ohio: 6 properties with a combined 553 keys
- Kentucky: 2 properties with a combined 198 keys
For more information on Extended Stay America or to book a stay at one of these properties, visit: https://www.extendedstayamerica.com/.
About Aimbridge Hospitality
Aimbridge Hospitality is a leading, multinational hospitality company offering best in class hotel management services across a broad spectrum of franchised branded full service, select service, luxury hotels, destination resorts, convention centers, and lifestyle hotels. Aimbridge’s premium portfolio represents over 1,550 properties in 49 states and 21 countries, inclusive of pipeline. As the world’s largest third-party operator, Aimbridge is dedicated to its mission to leverage its scale to add value for owners and opportunities for associates better than any hospitality operator. Aligned with a concentrated focus, agility, and expertise for each vertical or hotel product category, Aimbridge drives market success for hotels and optimizes investment returns for owners. Aimbridge Hospitality is based in Plano, Texas, with additional corporate offices in Atlanta, Calgary, Fargo, Puerto Rico, Toronto, and Washington D.C. Evolution Hospitality, Aimbridge’s Lifestyle Division, is based in San Clemente, Calif. Aimbridge’s International Division, Interstate Hotels & Resorts, has supporting offices across Europe in Amsterdam, Birmingham, Glasgow, and Moscow.
For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.com and connect with Aimbridge on LinkedIn.
About Three Wall Capital
Founded in 2008 by Alan Kanders, Three Wall Capital has completed over $1.0 billion in transactions in a principal investor capacity since inception. TWC invests with the philosophy that hotel real estate is subject to both short- and long-term cycles, and therefore, opportunistically invests in product types ranging from limited service to luxury hotels. TWC’s current investment strategy is to acquire and develop mid-scale extended stay hotels in markets with strong growth outlooks in terms of population, disposable income, jobs, diversity of high-quality food and beverage experiences, retail offerings, and office space. Three Wall Capital’s portfolio consists of 61 hotels across 12 states. For further information and more details on TWC’s portfolio, visit www.threewallcapital.com.